Thermo Fisher Rises 3.12% As Technicals Signal Bullish Reversal Near Key 476 Support

Thermo Fisher Scientific (TMO) rose 3.12% in the most recent session to close at 491.41, recovering from a three-day pullback that tested support near 476. This analysis evaluates technical signals to contextualize the price action.
Candlestick Theory
Recent candlesticks reveal a short-term consolidation pattern between 475.64 and 502. The 476.54 close on September 10 formed a hammer-like candle at the 475.64–485.82 range, coinciding with the August 8 low (451.44) and Fibonacci support (discussed later). The subsequent 3.12% white candle on September 11 confirmed bullish rejection of the 475–480 support zone. Resistance is established at the September 5 peak (502), with a break above potentially targeting the yearly high of 623.75.
Moving Average Theory
The 50-day moving average (485) and 100-day MA (465) slope upward, affirming the intermediate bullish trend. However, the 200-day MA (500) remains above the current price, indicating long-term resistance. A decisive close above 500 would align all key MAs bullishly, while failure risks retesting the 100-day MA. The September 11 rally positioned the price above the 50-day MA, reinforcing near-term strength.
MACD & KDJ Indicators
MACD shows a bullish crossover emerging, with the histogram turning positive as the signal line converges near the zero axis. KDJ oscillators (K: 35, D: 30, J: 45) exited oversold territory (KDJ < 30 on September 10) but remain below overbought thresholds. This alignment suggests building upward momentum. A confirmed MACD crossover above zero would strengthen the reversal case.
Bollinger Bands
Bollinger Bands contracted sharply during the September 8–10 consolidation (480–490 range), indicating reduced volatility. The September 11 breakout closed near the upper band (492), signaling renewed bullish expansion. Support now aligns with the 20-day moving average (488) and the lower band (475). Sustained upper-band proximity may foreshadow overbought conditions if volume diverges.
Volume-Price Relationship
Volume increased 4.3% during the September 11 rally (1.505M shares vs. 1.443M previously), validating the breakout. However, volume remains below the 1.778M peak during the August 22 rally (3.35% gain), suggesting caution. Bearish volume divergences appeared during the September 5 peak (502), where a 0.64% gain occurred on below-average volume (1.443M), contributing to the subsequent pullback.
Relative Strength Index (RSI)
The 14-day RSI rebounded to 57 from a near-oversold 42, reflecting improving momentum without overextension. While RSI hasn’t exceeded 70 since June 2025, the current reading faces resistance near the August 2025 level (65). A divergence occurred during the September 5 high when RSI (62) failed to surpass its prior high (68) despite the price peak, preceding the correction. This warrants monitoring for momentum fatigue near 500–502 resistance.
Fibonacci Retracement
Using the 623.75 high (September 19, 2024) and 385.46 low (June 18, 2025), key Fibonacci levels are 441.68 (23.6%), 476.49 (38.2%), and 500.10 (50%). The September 10 low (475.64) rebounded precisely at the 38.2% support. The current price (491.41) approaches the 50% level (500.10), a critical psychological and technical barrier. Confluence with the 200-day MA (500) heightens its significance as a breakout/rejection zone.
Confluence and Divergence
Multiple signals align at 500–502 resistance: the 200-day MA, 50% Fibonacci retracement, and September 5 peak. Bullish confluence exists at 475–480, reinforced by KDJ/MACD momentum reversals, Fibonacci support, and candlestick rejection. However, bearish volume divergence near 502 and RSI’s prior non-confirmation of highs emphasize caution at resistance. The September 11 volume-backed rally above the 50-day MA supports upside bias, but overcoming 500 requires stronger conviction.