Danaher Corp. (DHR) is a science and technology innovator and will be wrapping up the JP Morgan (JPM) health care conference on Wednesday, hopefully with an update on their vaccine progress.
Let's check out the charts.
In this daily bar chart of DHR, below, we can see that prices are "flirting" with new highs as they retest the November peak. DHR is trading above the flat 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line looks like it is leading the price action and is already at a new high. The Moving Average Convergence Divergence (MACD) oscillator has turned up above the zero line for a buy signal.
In this weekly bar chart of DHR, below, we can see how prices have performed since they broke out from a base pattern around $100. DHR is trading above the rising 40-week moving average line.
The OBV line is generally positive and the MACD oscillator is close to a new buy signal.
In this daily Point and Figure chart of DHR, below, we can see a potential upside price target in the $291 area.
Bottom line strategy: The charts of DHR are mixed but the trend is still pointed up. Hold existing longs and raise stops to $219. I do not find enough technical reasons to recommend new long positions at this point in time.
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