(SYK) Trading Signals

June 09, 2024, 10:10 am ET, BY Bill T.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SYK

• Buy SYK slightly over 344.5 target 368.85 stop loss @ 343.51 Details

The technical summary data tells us to buy SYK near 344.5 with an upside target of 368.85. This data also tells us to set a stop loss @ 343.51 to protect against excessive loss in case the stock begins to move against the trade. 344.5 is the first level of support below 349.33 , and by rule, any test of support is a buy signal. In this case, support 344.5 is being tested, a buy signal would exist.

• Short SYK slightly under 368.85, target 344.5, stop loss @ 369.92 Details

The technical summary data is suggesting a short of SYK as it gets near 368.85 with a downside target of 344.5. We should have a stop loss in place at 369.92though. 368.85 is the first level of resistance above 349.33, and by rule, any test of resistance is a short signal. In this case, if resistance 368.85 is being tested, a short signal would exist.

Swing Trading Plans for SYK

• Buy SYK slightly over 351.18, target 368.85, Stop Loss @ 350.17 Details

If 351.18 begins to break higher, the technical summary data tells us to buy SYK just slightly over 351.18, with an upside target of 368.85. The data also tells us to set a stop loss @ 350.17 in case the stock turns against the trade. 351.18 is the first level of resistance above 349.33, and by rule, any break above resistance is a buy signal. In this case, 351.18, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SYK slightly near 351.18, target 345.82, Stop Loss @ 352.19. Details

The technical summary data is suggesting a short of SYK if it tests 351.18 with a downside target of 345.82. We should have a stop loss in place at 352.19 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 351.18, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SYK

• Buy SYK slightly over 350.2, target 351.18, Stop Loss @ 349.38 Details

If 350.2 begins to break higher, the technical summary data tells us to buy SYK just slightly over 350.2, with an upside target of 351.18. The data also tells us to set a stop loss @ 349.38 in case the stock turns against the trade. 350.2 is the first level of resistance above 349.33, and by rule, any break above resistance is a buy signal. In this case, 350.2, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SYK slightly near 350.2, target 345.82, Stop Loss @ 351.02. Details

The technical summary data is suggesting a short of SYK if it tests 350.2 with a downside target of 345.82. We should have a stop loss in place at 351.02 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 350.2, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Stryker Corporation (SYK) available here: SYK.

SYK Ratings for June 09:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	319.07
P2	350.2	345.82	344.5
P3	352.43	351.18	368.85

AI Generated Signals for SYK

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Trading Stryker Corporation (NYSE: SYK) can be efficient and rewarding, especially in volatile markets, so long as the important pivot points for the stock are observed before making decisions to buy, sell, or short.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SYK change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SYK is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SYK too.  All of these are offered below the Summary Table.