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Stock Market & Financial Investment News

News Breaks
February 20, 2013
10:20 EDTLIFELife Technologies gaps down after report that potential buyer skeptical of deal
The shares are down over 6.8% at time of writing after an earlier report from Reuters that Thermo Fisher Scientific (TMO) was skeptical of a deal given the gap in price expectations. Technically there is now a "blow off" or "island" top on the daily chart that is indicative of bearish price. At the current price level of $59.01, support is at $57.90, the 10-week moving average. The bullish gap preceding this "island" (an area bounded by two large price gaps) of price at the top of the daily chart has a low at $55.10 and could be tested at some point.
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