TMO and INFO Break Out of Consolidation

The $140.00 level has been support for shares of Thermo Fisher Scientific (TMO) for the last 10 months. The stock retested it several times over that period and followed each with a significant bounce higher in price. TMO has re-established that level as significant support once again over the last two months forming a "W"-shaped bottom.

This reversal pattern has delineated resistance in the $146.50 area, which is being reinforced by a downtrend line drawn off the October and November highs. In addition, this intersection of resistance was broken in Friday's session and the stock is seeing some follow-through interest early in Monday's session....177 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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