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- 5/31/2024 -
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Danaher Corp. (DHR) Technical Analysis

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Summary:
Weekly :Broken trend support lineLane's Stochastic and MACD bearish divergenceOversold sector
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Danaher Corp. (DHR). During the week, the DHR dropped -5.98 points, or -2.28%, and closed at 256.80 on Friday, May 31, 2024. Weekly volume was 26% above average.

DHR is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See DHR long-term trend chart]
A long-term uptrend had started on October 30, 2023 at 182.09 and reached 268.98 on May 22, 2024. DHR gained -86.89 points, or -47.72%, in 29 weeks. The price is now at the 14.02% retracement level.

Medium-term trend: [See DHR medium-term trend chart]
A medium-term uptrend had started on April 18, 2024 at 230.74 and reached 268.98 on May 22, 2024. DHR gained -38.24 points, or -16.57%, in 4 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (266.50) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See DHR weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See DHR short-term trend chart]
A short-term downtrend had started on May 22, 2024 at 268.98 and reached 248.53 on May 30, 2024. DHR lost 20.45 points, or 7.60%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See DHR daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.30
Williams' Percentage Range (W%R) 69.70
Lane's Stochastic (%D-Slow) 30.33
Greed/Fear Indicator (GFI) 38.29
Moving Average Converg./Diverg. (MACD) 3.66
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.45
Williams' Percentage Range (W%R) 34.20
Lane's Stochastic (%D-Slow) 76.13
Bearish
Greed/Fear Indicator (GFI) 64.46
Moving Average Converg./Diverg. (MACD) 4.48 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 272.48
Upper Bollinger Band 270.42
Monthly Trendline Support 266.50
Parabolic System 266.28
Weekly Stochastic Crossing 261.72
20 Day Moving Average 257.65
Price 256.80
Daily Stochastic Crossing 253.10
50 Day Moving Average 250.30
Lower Bollinger Band 243.39
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Health Care Equipment 43
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 268.98
High Date 05/22/2024
Low 248.53
Low Date 05/30/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 268.98
High Date 05/22/2024
Low 248.53
Low Date 05/30/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 272.48
Support 266.50
Low 230.74
Low Date 04/18/2024
High 268.98
High Date 05/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 182.09
Low Date 10/30/2023
High 268.98
High Date 05/22/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 333.96
High Date 09/10/2021
Low 182.09
Low Date 10/30/2023
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.