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Derek Frazier shares and explains his ideas and process of decision making behind cyclitecnical trading. Please like and comment.

Bad news for new Thermo Fisher Scientific buyers

the lows arent in and 550.00 is expensive

Derek William Frazier

Dec 17, 2022

I think TMO 0.00%↑ will have to come down from here to long term support at 450.00 and that the most recent move below 550.00 is probably the last stop before a new quarterly low. Despite it being recommended for a buy, I dont recommend it here. I see it floundering and unable to make new highs.

There is various cyclical evidence that contributes. A move below $520 seals the fate of this stock to go to $450.

Careful, it has to be timed correctly. And dont try to extend the target.