TMO to 560 by end of 2020?TMO has moved into slightly shorter cycle in November, which is not usually the ideal set up I like. But, this is a solid company and shows no reason to break down.
Based on the shorter cycle, I expect double-bottom to be formed roughly between December 1-4. Watch for the W.
TMO bounced off the 100MA and has formed a bullish sign with a dragonfly doji on Nov 27 trading session. This suggests it would likely run up to test 460, before a minor pullback possibly, and then bounce again off the 100 MA to jump back into it's trading channel.
Green trend channel: This has been TMO's trading channel since March 2020 until Nov 2020. Why has the stock taken this upward channel since March 2020? Look into their earrings reports over the last two quarters and the significant positive surprise in their EPS . Moreover, TMO is a major part of the COVID-19 support infrastructure, providing testing, partnering with leading vaccine pharmaceuticals (including Pfizer).
Purple trend channel: The stock has traded in this channel since Nov 2016 - 10 March 2020. You notice a big green candle on 6 July as TMO bounces into the green channel and doesn't test back into the purple channel ever since. I don't believe, since the context and the importance of the company in the treatment and testing of covid that TMO will re-test the purple channel anytime soon (if ever).
Entry: Taken a small position on Nov 27 @ 446. Will increase position once cycle prediction is confirmed by Dec 1-4.
Target: 560 by 31 December 2020
Good Lick!
0R0H trade ideas
TMO - ThermoFisherScientific - Setting up a GartleyTMO has confirmed a low for the A pivot of a potential Bearish Gartley with a bullish engulfing daily candle on Wednesday. Look for a small pullback for ideal entry long. Long target on this move would be a 382 to 50 retrace of the down move. Take profits in that area and then wait for the pullback for the C pivot build. Once the C pivot has been confirmed, a nice swing long will be in play for a 786 retrace. That said, consider taking profit at the 113 fib of the A-B measurement as there is often pullback from that 113 to the 100 or 886 before the next leg (essentially forming an ABCD up)
TMO - Double Bottom or Head and ShouldersNYSE:TMO
Thermo FIsher has had a good run. Recent days have seen it drop hard and fast. Technically speaking this has formed a tight double bottom pattern. Or one could argue a head and shoulders pattern with a small left shoulder. Either way tomorrow's price action should dictate if its removed from the the StockConquer list. Indicators point to oversold areas and price action is at the bottom half of the Bollinger bands. However that deep wide cliff warrants watching tomorrow for price action to turn against any trade.
PAY to THERMO FISHER SCIENTIFIC Hey my friends, THERMO FISHER SCIENTIFIC is in a very important moment historically we can attend the new highest of its existential history. It is in a fake bassiere configuration with a trace of sellers on the VWAP and a low volume of past purchases. The TIMEFRAME M1 points out to us that there has been a collapse of the price this one goes on its last low to turn over. There is a good chance of breaking the VWAP reclaimed pre-session losses with a breakout to consider. Strong test on the new stabilization zone with the symbolic number 532.00.
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TMO - Elliottwave analysis TMO - It is in strong up trend from covid low and out performing the SPX. It is in final move up as 5th wave. But wait for correction of 4th wave before taking entry for buy set up near 458 zone. for target above 485 as new high.
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TMO (Thermo Fisher) follows clear bullish channelThermo Fisher one of the best performing medical devices companies worldwide with a wide and leading technologies in a very diversified strategy, is following a bullish channel for the past weeks and month. It should continue like that since the company is delivering on earnings and revenue targets even amidst the pandemic. It shoudl go up from here again to 435-440 within 10-20 days max. Enjoy the ride!