Danaher technical comments ahead of earnings, potential bearish pattern
Ahead of earnings news the key technical feature on the 1-year chart is an irregular bearish head and shoulders pattern that will become active on a move below $75. If the news is a negative surprise the pattern could trigger. Downside potential for the pattern, if it triggers and completes, would be to the $68 to $67 area. If the news is instead a bullish surprise, the first major resistance level would be at the top of the right shoulder of the pattern at $79. If price breaks out above $79, the pattern would be voided. Next resistance levels to watch as potential upside objectives would be at $80.01 and then at $82.64 which is the 52-week high. Above the high next resistance would be at $83.56 and $85.71.