The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Zimmer Bio (ZBH) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :The price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Zimmer Bio (ZBH). During the week, the ZBH dropped -1.57 points, or -1.24%, and closed at 125.17 on Friday, March 15, 2024. Weekly volume was -26% below average.

Long-term trend: [See ZBH long-term trend chart]
A long-term downtrend had started on May 2, 2023 at 149.25 and reached 102.05 on October 12, 2023. ZBH lost 47.20 points, or 31.62%, in 23 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 76.23 and resistance is at 139.90. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See ZBH medium-term trend chart]
A medium-term uptrend had started on October 12, 2023 at 102.05 and reached 129.51 on February 23, 2024. ZBH gained -27.46 points, or -26.91%, in 19 weeks. The price is now at the 15.80% retracement level.

Weekly Technical Indicators: [See ZBH weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ZBH short-term trend chart]
A short-term uptrend had started on March 4, 2024 at 122.49 and reached 128.47 on March 13, 2024. ZBH gained -5.98 points, or -4.88%, in 9 days. The price is now at the 55.18% retracement level.

Daily Technical Indicators: [See ZBH daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 13, 2024. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.56
Williams' Percentage Range (W%R) 73.10
Lane's Stochastic (%D-Slow) 66.61
Greed/Fear Indicator (GFI) 45.70
Moving Average Converg./Diverg. (MACD) 0.74
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.19
Williams' Percentage Range (W%R) 18.90
Overbought
Lane's Stochastic (%D-Slow) 68.68
Greed/Fear Indicator (GFI) 68.26
Moving Average Converg./Diverg. (MACD) 0.23
Trading Signals
Description Value Chart
Monthly Trendline Resistance 139.90
Upper Bollinger Band 129.01
Parabolic System 128.12
Daily Stochastic Crossing 126.82
Weekly Stochastic Crossing 126.47
20 Day Moving Average 126.27
Price 125.17
50 Day Moving Average 124.48
Lower Bollinger Band 122.77
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Equipment 81
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 122.49
Low Date 03/04/2024
High 128.47
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 102.05
Low Date 10/12/2023
High 129.51
High Date 02/23/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 139.90
Support 76.23
High 149.25
High Date 05/02/2023
Low 102.05
Low Date 10/12/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 100.39
Low Date 07/14/2022
High 149.25
High Date 05/02/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 153.76
High Date 09/27/2021
Low 100.39
Low Date 07/14/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.