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Archive
- 11/22/2024 -
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Thermo Electron (TMO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Thermo Electron (TMO). During the week, the TMO gave back -1.50 points, or -0.29%, and closed at 513.30 on Friday, November 22, 2024. Weekly volume was 68% above average.
TMO is a member of Health Care Sector. Health Care is the most oversold sector. TMO is a member of Life Sciences Tools & Services Industry. Life Sciences Tools & Services is the third most oversold industry. 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 TMO long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 672.34 and reached 415.60 on October 25, 2023. TMO lost 256.74 points, or 38.19%, in 94 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (348.53) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.
 Medium-term trend: [See TMO medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 415.60 and reached 627.88 on September 10, 2024. TMO gained -212.28 points, or -51.08%, in 45 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (590.88) 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 TMO weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 11, 2024. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See TMO short-term trend chart]
A short-term downtrend had started on September 27, 2024 at 623.77 and reached 493.30 on November 19, 2024. TMO lost 130.47 points, or 20.92%, in 53 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 481.64 and resistance is at 539.22. 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 short-term trend.
 Daily Technical Indicators: [See TMO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since November 8, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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