Swing Trade Idea (DHR) – November 01, 2022
Our bearish trade for Tuesday, November 1st is Danaher Corporation (DHR). DHR is part of the Health Care Sector, which has performed at 9.61% over the last month, with DHR underperforming relative to its sector at -2.56% over the same period.
DHR broke below a key level of $250, and as it traded higher, this level became resistance, which indicates that more downside can be expected. Both the 1M and 6M trends are bearish, confirming our bearish bias for this trade.
As a close, if DHR were to trade above $257 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves below $3.45.
