Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>DHR stock has slipped below the 20 day EMA.</a> </li> 
 <li> <span>2</span> <a>Buyers have lost momentum and are now in trouble due to selling pressure.</a> </li> 
</ul> 
<p>Danaher Corporation (DHR stock) DHR stock price drags momentum and shows a bearish engulfing candlestick highlighting the selling pressure. It slipped below the 20 day EMA in the last trading session. Furthermore, the price action shows that sellers have attained traction and buyers have started long unwinding due to the intense sell-off witnessed on the charts. Last session, bulls tried a pullback, but due to lack of momentum, buyers failed to hold the gains and an inverted hammer candlestick was formed which showcased that bears dominance.&nbsp;</p> 
<p>DHR share price is below neutrality and is heading toward the round mark of $200 which is the demand zone. Furthermore, the chart shows the falling channel and DHR stock persists in forming the lower lows and has slipped below the significant moving averages. Moreover, the options chain shows that, at the strike price of $210, a massive open interest of 397 hundred shares on the put side shows that long positions were trapped and bulls are in trouble and trying for a pullback. Furthermore, at the strike price of $215, both call and put writers showed equal open interest of 350 hundred shares, but DHR stock favors the bears.</p> 
<p>At press time, DHR stock price was trading at $209.43 with an intraday drop of 0.03% showing an inverted hammer candlestick in yesterday’s trading session. Moreover, the trading volume increased by 0.24% to 3.78 Million and the market cap is $154.633 Billion. Furthermore, analysts have maintained a neutral rating with a yearly target price of $248.64 suggesting that volatility will continue in the upcoming sessions.</p> 
<p>Danaher Corp. engages in the design, manufacture, and marketing of professional, medical, industrial, and commercial products and services. It operates through the following segments: Biotechnology, Life Sciences, Diagnostics, and Environmental and Applied Solutions. The Biotechnology segment includes the bioprocessing and discovery and medical businesses and offers a range of tools, consumables, and services. The Life Sciences segment offers a range of instruments and consumables to study the basic building blocks of life, including DNA and RNA.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-dhr-stock-attain-a-pullback-or-retest-200-strong"><strong>Will DHR Stock Attain a Pullback or Retest $200?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427.png" alt="DHR Stock (NYSE: DHR) Selling Persists, Will DHR Reach $200?" class="wp-image-175992" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-427-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: DHR Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, DHR stock price is trading below the significant moving averages and showed bears dominance. Furthermore, the chart shows that sellers have persisted in adding short positions and gaining traction which suggests that follow-on selling will continue and DHR stock may retest the swing of $200. Moreover, DHR share price has slipped below the 38.2% Fibonacci retracement level and is heading toward the 23.6% zone near $200.</p> 
<p>The RSI curve stayed in the oversold region and shows a bearish divergence suggesting that DHR stock may continue to face selling pressure in the next sessions.</p> 
<p>The MACD shows a bearish crossover and red bars on the histogram suggesting a negative outlook for the next sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/14/rsi-steady-motion-might-turn-shell-plc-shel-stock-overbought/" target="_blank" rel="noreferrer noopener">DHR stock chart </a>shows a bearish engulfing candle followed by an inverted hammer candlestick showing the bears’ dominance on the charts. Moreover, the price action shows the breakdown below the 20 day EMA indicating that selling pressure will extend further and that the DHR share price may reach $200 in the coming sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $110 and $100</p> 
<p>Resistance Levels: $115 and $120</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

DHR Stock (NYSE: DHR) Selling Persists, Will DHR Reach $200?

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