$ZBH - Zimmer Biomet HoldingsAlthough Higher Time Frames have painted an altered Head and Shoulders Top. Yet the Support Baseline is holding firm.
The Right Side of Head has printed a Decending Triangle. And yet again the Support Band has held firm.
Currently the price is consolidating between a Decending Channel.
Movements fluctuations due to Earnings and Dividends.
A Bullish Three Drives Pattern has emerged. But expectations of further accumulation lay evident.
Price is ranging between a Strong Volume Zones. Volume Profile PoC at $105 per Share.
Pathway projection drawn, reflecting a Bullish breakout of the consolidation zone. To test the long-term Decending Trendline (Red).
There is a CME Gap (Blue Rectangle) above the Red Resistance Trendline that the Bulls should be aiming to Fill.
.
ZIM trade ideas
Watch $ZBH for a nice jump to around $110Stock Watch: NYSE:ZBH
As you can see, the NYSE:ZBH stock has been hit hard, experiencing a significant drop. However, this also creates plenty of room for growth. Keep an eye on this stock and monitor key factors such as trend, momentum, and support & resistance levels. It might present a strong opportunity for recovery. Add it to your radar!
ZBH to $104My trading plan is very simple.
I buy or sell when:
* Price tags the top or bottom of parallel channel zones
* Money flow spikes above it's Bollinger Bands
* Price at Fibonacci levels
So...
Here's why I'm picking this symbol to do the thing.
Price in channel zone at bottom of channels (period 100 52 & 26)
Stochastic Momentum Index (SMI) at oversold level
Money flow momentum is spiked negative and under at bottom of Bollinger Band
Entry at $100.88
Target is $104 or channel top
ZBH a medical device company falls on earnings beat LONGZBH is a big global medical device company. It is old school. Aluminum titanium polymers, plates screws wires. Hollywood stars are familiar as it makes the devices for leg lengthening surgery. ( shortening is easy, lengthening not so much) I am familiar because in the past I have served as a consultant for this company. It business is mainly orthopedic elective surgery in supporting orthopedic surgeons serving their patients spine straightening to braces for after a neck fracture.
Not a surprise but a lot of surgeries were put off during Covid. So much that the catching up is still ongoing. This is part of the reason why healthcare and the medical technology sectors are expected to be among the hottest of 2024.
So much for fundamentals, the technical analysis support for a long trade is commented on the chart. On it you can see the trend since the last earnings. ZBH reported Thursday, January 7th.
with an earnings beat and a dip in preparation for a possible rip. The lunch hour of Thursday's session would be the next best time while another time is when you find another dip after you
have read this.
Want to trade and hedge your trade? Just take a trade in SYK and let them have a race. Cut the underperformer and use the proceeds to get more of the other. It's a very simple plan.
Want a broad trade in medical technology? Take a look at XBI or leveraged LABU.
using ZBH 145c expired in Aug to trade it into its next earningAccording to Argus,
ZBH completed an inverse headand-shoulders bottom in mid-Aprilon above-average volume.
On May 2, the stock gapped higher to recovery highs on massive volumefollowing better-than-expected quarterly results. The gap did not hold and over the next four weeks, the shares pulled all the way back
to their 21-month exponential. ZBH then popped back quickly and now is approaching its early May highs.
If the slightly damaged inverse H&S works out, we could see a measured move to $160 or higher, which is not far from the April 2021 all-time high at $170.
Medical device stocks have been in favor since late 2022.
ZBH longZimmer Biomet Holdings Inc. designs, develops, manufactures, and markets medical equipment.The Company offers orthopedic, dental, and spinal reconstructive implants, as well as bone cement and related surgical products.
My trade levels
Entry: $112.05
Take profit: $118.05
Stop loss: $109.59
Risk/reward: 2.44
ZBHIt will probably take a long time to accumulate around 131-132, but there is potential. Good Fibonacci level and channel. Landmark blue level
Globally, the action can be classified as a category that will feel neutral and positive in 2022. These are Life sciences tools and services and Medical devices and equipment (according to wfc)
Zimmer Biomet Holdings is a renowned global manufacturer of innovative medical equipment for patients suffering from disorders or injuries of bones, joints, and supporting soft tissues. The company develops, manufactures and markets orthopedic reconstructive products; products for sports medicine, biological products, remedies for the treatment of injuries to the extremities, spine, (plates, implants, prostheses, etc.); products for craniofacial, thoracic, dental surgery and other related surgical products.
The ZIMMER BIOMET HOLDINGS PlanHey my friends, ZIMMER BIOMET HOLDINGS is in a bullish momentum, significant buying volume with hammer candle resetting buyers. We are on a bullish trend support despite its continuity for a rise, great possibility of moving away from the trend support to breakout the consolidation zone.
We go to join the last previous higher in the new area, maybe back down if the sellers take control.
Please LIKE & FOLLOW, thank you!