Today, shares of Zimmer (NYSE:ZMH) have crossed bearishly below their 10-day moving average of $66.12 on a volume of 268K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Zimmer has overhead space with shares priced $65.55, or 7.6% below the average consensus analyst price target of $70.96. The stock should find initial support at its 50-day moving average (MA) of $65.29 and further support at its 200-day MA of $62.94.
Zimmer Holdings, Inc. designs, develops, manufactures, and markets orthopaedic and dental reconstructive implants, spinal implants, trauma products and related surgical products. The Company also provides other healthcare related services. Zimmer markets its products in the United States and other countries around the world.
In the past 52 weeks, Zimmer share prices have been bracketed by a low of $47.00 and a high of $68.11 and are now at $65.55, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.