Danaher Corporation Stock Forecast
Weaker technical forecast for Danaher Corporation as stock downgraded to Hold/Accumulate.
(Updated on Apr 24, 2024)
The Danaher Corporation stock price fell by -1.07% on the last day (Wednesday, 24th Apr 2024) from $253.11 to $250.41. During the last trading day the stock fluctuated 2.46% from a day low at $247.98 to a day high of $254.09. The price has fallen in 7 of the last 10 days but is still up by 1.85% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 3 million shares were bought and sold for approximately $722.56 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Danaher Corporation stock with a 90% probability to be traded between $235.48 and $256.14 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DHR Signals & Forecast
The Danaher Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $241.60 and $247.55. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Danaher Corporation stock
Danaher Corporation finds support from accumulated volume at $249.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $6.11 (2.46%) between high and low. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: $239.88 (-4.21%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (DHR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Danaher Corporation to open at $250.83, and during the day (based on 14 day Average True Range), to move between $244.82 and $256.00, which gives a possible trading interval of +/-$5.59 (+/-2.23%) up or down from last closing price. If Danaher Corporation takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $249.40 (0.40%) than the resistance at $252.90 (0.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Danaher Corporation stock A Buy?
Danaher Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.021 Hold/Accumulate Downgraded
Predicted Opening Price for Danaher Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $250.83 ( 0.166%) | $250.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DHR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 256.94 | 2.61 % | |
| R2 | 254.60 | 1.67 % | ||
| R1 | 253.16 | 1.10 % | ||
| Current price: | 250.41 | |||
| Support | S1 | 248.49 | -0.766 % | |
| S2 | 247.05 | -1.34 % | ||
| S3 | 244.72 | -2.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 253.22 | 1.12 % | |
| R2 | 253.11 | 1.08 % | ||
| R1 | 252.90 | 0.99 % | ||
| Current price | 250.41 | |||
| Support | S1 | 249.40 | -0.403% | |
| S2 | 244.95 | -2.18% | ||
| S3 | 233.00 | -6.95% |
DHR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 27, 2024 | Apr 26, 2024 | $0.270 | 0.108% |
| 2 | Dec 05, 2023 | Dec 28, 2023 | Jan 26, 2024 | $0.240 | 0.103% |
| 3 | Sep 12, 2023 | Oct 11, 2023 | Oct 27, 2023 | $0.270 | 0.144% |
| 4 | May 09, 2023 | Jun 29, 2023 | Jul 28, 2023 | $0.270 | 0.117% |
| 5 | Feb 22, 2023 | Mar 30, 2023 | Apr 28, 2023 | $0.270 | 0.129% |
FAQ
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