- 5/26/2023 -
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Danaher Corp. (DHR)
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|It was a second consecutive positive week for the Danaher Corp. (DHR). During the week, the DHR gained 3.88 points, or 1.70%, and closed at 232.21 on Friday, May 26, 2023. Weekly volume was 36% above average. |
DHR is a member of Health Care Sector. Health Care is the second most overbought 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 downtrend had started on September 10, 2021 at 333.96 and reached 221.22 on May 17, 2023. DHR lost 112.74 points, or 33.76%, in 87 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 137.80 and resistance is at 266.77. 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 DHR medium-term trend chart]
A medium-term downtrend had started on December 13, 2022 at 281.54 and reached 221.22 on May 17, 2023. DHR lost 60.32 points, or 21.43%, in 22 weeks. The price is now at the 18.22% retracement level.
Weekly Technical Indicators: [See DHR weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since February 10, 2023. This is an indication that the medium-term trend is down. 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 April 18, 2023 at 261.24 and reached 221.22 on May 17, 2023. DHR lost 40.02 points, or 15.32%, in 29 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 218.52 and resistance is at 240.09. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.
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 above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.