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Watch for Shares of Zimmer (ZMH) to Approach Support at $74.15

Published on Mon, 04/15/2013 - 12:46
By Mallory Stone

Shares of Zimmer (NYSE:ZMH) have bearishly opened below the pivot of $75.48 today and have reached the first support level of $74.81. Investors may be interested in a cross of the next downside pivot targets of $74.15 and $72.82.

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.

Zimmer has overhead space with shares priced $75.06, or 4.8% below the average consensus analyst price target of $78.86. The stock should discover initial support at its 50-day moving average (MA) of $74.76 and subsequent support at its 200-day MA of $67.61.

Zimmer share prices have moved between a 52-week high of $77.53 and a 52-week low of $57.46 and are now trading 31% above that low price at $75.06 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

By Mallory Stone