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Watch for Shares of Zimmer (ZMH) to Approach Resistance at $71.49

Published on Fri, 01/11/2013 - 10:39
By Peter Chu

Shares of Zimmer (NYSE:ZMH) opened today above their pivot of $70.78 and have already reached the first level of resistance at $71.10. Should the shares continue to rise, the resistance pivots of $71.49 and $72.20 will be of interest.

There is potential upside of 0.3% for shares of Zimmer based on a current price of $71.27 and an average consensus analyst price target of $71.45. The stock should discover initial support at its 50-day moving average (MA) of $66.48 and subsequent support at its 200-day MA of $63.77.

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 $53.89 and a high of $71.35 and are now at $71.27, 32% above that low price. The 200-day and 50-day moving averages have moved 0.19% higher and 0.85% higher over the past week, respectively.

By Peter Chu
pchu@fnno.com

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