• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

Thermo Fisher Scientific Presents a Mixed Picture Right Now

Here's what the latest charts and indicators are saying.
By BRUCE KAMICH
Feb 03, 2022 | 12:28 PM EST
Stocks quotes in this article: TMO

For his second "Executive Decision" segment of Wednesday's Mad Money program, host Jim Cramer spoke with Marc Casper, chairman, president and CEO of Thermo Fisher Scientific (TMO) , the tools and diagnostics provider for the life sciences industry.

Casper said that Thermo Fisher had a spectacular year in 2021 and grew over 20%, including the largest acquisition in the company's history.

When asked what our country needs to get past this pandemic and get ahead of the next one, Casper said America needs a holistic approach that includes surveillance and sequencing to quickly identify threats.

It needs diagnostics and testing to prevent the spread. And it needs most therapeutics that can treat patients and lower anxiety levels. Fortunately, Thermo Fisher is well positioned to assist in all of these areas and even has the capacity to help manufacture vaccines as well.

Casper noted that Thermo Fisher should not be thought of as just a pandemic company, however. The first thing it did with the pandemic windfall was dramatically increase investments outside of vaccines and testing.

Let's check on the charts and indicators.

In our Oct. 28 review of TMO we wrote: "Continue to hold longs from June but raise stops to $560 now. The $739 area is our next upside price objective." Prices stopped short of our price target and quickly turned lower last month to hit our recommended stop at $560.

In the updated daily bar chart of TMO, below, we can see that prices broke below the 50-day moving average line and then declined further to test the 200-day line last month. Prices have rebounded a bit in recent days and the On-Balance-Volume (OBV) line shows only a small improvement.

The Moving Average Convergence Divergence (MACD) oscillator crossed to the upside for a cover shorts buy signal.

In the weekly Japanese candlestick chart of TMO, below, we can see a recent hammer bottom formation or pattern with bullish confirmation. Prices bounced off the rising 40-week moving average line.

The weekly OBV line tracked prices higher the past three years but shows a decline from December till now. The MACD oscillator has crossed to the downside for a take profit sell signal.

In this daily Point and Figure chart of TMO, below, we still see an upside price target.

This weekly Point and Figure chart of TMO, below, now shows us a downside price target in the $412 area.

Bottom-line strategy: The overall view of the TMO charts is mixed but with the weakness in the broader market averages a cautious approach is warranted now that we were stopped out. Avoid the long side for now.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Technology | Mad Money | Executive Interview | Investing | Stocks | Technical Analysis | Health Care Equipment & Services | Life Sciences | Coronavirus

More from Stocks

The Mask Gets Yanked Off of Goldilocks Narrative

James "Rev Shark" DePorre
Sep 21, 2023 4:29 PM EDT

The bulls' story always sounded like a stretch, and now they will have to develop a new narrative to help drive a recovery.

Doug Kass: Risk Happens Fast. This Is All About to Get Real

Doug Kass
Sep 21, 2023 2:30 PM EDT

Caution and stock market congestion may lie ahead as interest rates stay higher for longer, while the stock market decline has now assumed a global character. Plus, more lessons from Howard Marks.

After Splunk Grab, Cisco's a Slam Dunk

Stephen Guilfoyle
Sep 21, 2023 11:54 AM EDT

I didn't like the idea of a cash deal at the start, but after going through the fundamentals, I think it's a wise move -- and here's why I'm adding the stock.

The Day After the Fed Meeting, I'm Gambling on This Stock

James "Rev Shark" DePorre
Sep 21, 2023 11:27 AM EDT

Here's why I like this gaming-related play, and why stocks could eventually offer some good entry points -- but not yet.

Whoa, We're (Only) Half Way There: Why the Correction May Have a Long Way to Go

Guy Ortmann
Sep 21, 2023 10:12 AM EDT

Four key indexes shifted their trends from neutral to bearish Wednesday.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:24 AM EDT BRUCE KAMICH

    This Could Get Messy

    A number of key stocks are getting close to import...
  • 01:41 PM EDT CHRIS VERSACE

    Latest AAP Podcast With Helene Meisler!

    Listen in as the Action Alerts PLUS podcast talks ...
  • 09:07 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The Most Common and Costly Mistake in Investing
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login