BIO-TECHNE CORP (TECH)       84.69  -1.72 (-1.99%)

84.69  -1.72 (-1.99%)

US09073M1045 - Common Stock - After market: 84.69 0 (0%)

Technical Rating

5

Overall TECH gets a technical rating of 5 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. TECH was also a bad performer in the overall market in the last year.



The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
In the last month TECH has a been trading in the 74.04 - 90.63 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
TECH is an average performer in the Life Sciences Tools & Services industry, it outperforms 66% of 65 stocks in the same industry.
Volume is considerably higher in the last couple of days.
When comparing the yearly performance of all stocks, TECH is a bad performer in the overall market: 63% of all stocks are doing better.
TECH is currently trading in the lower part of its 52 week range, which is not a good signal. Agreed, the S&P500 Index is also not doing fantastic, but it still sitting in the middle of its 52 week range.

Statistics

1 Month 3 Months 6 Months 12 Months 11.00% 2.65% -6.70% -25.74% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 37.98 68.0025 - 130.74
TECH Weekly chart
TECH Daily chart

Support/Resistance Analysis


69.93

99.95
We found 2 important support areas.
  • A support zone ranging from 81.09 to 84.68. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @70.64 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 3 important areas.
  • Resistance @84.70 from a trend line in the weekly time frame.
  • A resistance zone ranging from 86.16 to 88.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @98.96 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

8

Although the technical rating is only medium, TECH does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 84.68, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

TECH Daily chart

BIO-TECHNE CORP84.69

NASDAQ:TECH (12/2/2022, 7:05:06 PM)-1.72 (-1.99%)

After market: 84.69 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Health Care
GICS Industry Life Sciences Tools & Services
Performance
Today -1.99% 1 Week -0.06%
2 Weeks 2.14% 1 Month 11%
3 Month 2.65% 6 Month -6.7%
Volatility
ATR(14) 2.59 ATR(20)% 3.57%
ATR Inc -14.32% Range Today 2.73
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 37.98 Mansfield -0.73
10 Day High 86.69 10 Day Low 80.89
20 Day High 90.63 20 Day Low 74.04
52 Week High 130.74 52 Week Low 68
CS1 End 84.68 CR1 Start 84.7
Volume & EV
DER(3) -0.08% DER(5) -1.68%
Volume 501.00K Volume Incr 103.17%
Vol(5) 758.10K Vol(50) 382.35K

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