How the (SYK) price action is used to our Advantage

July 19, 2024, 10:04 am ET, BY Bill T.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SYK

• Buy SYK slightly over 331.07 target 354.09 stop loss @ 330.11 Details

The technical summary data tells us to buy SYK near 331.07 with an upside target of 354.09. This data also tells us to set a stop loss @ 330.11 to protect against excessive loss in case the stock begins to move against the trade. 331.07 is the first level of support below 334.305 , and by rule, any test of support is a buy signal. In this case, support 331.07 would be being tested, so a buy signal would exist.

• Short SYK slightly under 354.09, target 331.07, stop loss @ 355.11 Details

The technical summary data is suggesting a short of SYK as it gets near 354.09 with a downside target of 331.07. We should have a stop loss in place at 355.11though. 354.09 is the first level of resistance above 334.305, and by rule, any test of resistance is a short signal. In this case, if resistance 354.09 is being tested, so a short signal would exist.

Swing Trading Plans for SYK

• Buy SYK slightly over 338.73, target 354.09, Stop Loss @ 337.75 Details

If 338.73 begins to break higher, the technical summary data tells us to buy SYK just slightly over 338.73, with an upside target of 354.09. The data also tells us to set a stop loss @ 337.75 in case the stock turns against the trade. 338.73 is the first level of resistance above 334.305, and by rule, any break above resistance is a buy signal. In this case, 338.73, 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 338.73, target 331.41, Stop Loss @ 339.71. Details

The technical summary data is suggesting a short of SYK if it tests 338.73 with a downside target of 331.41. We should have a stop loss in place at 339.71 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, 338.73, 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 337.14, target 338.73, Stop Loss @ 336.35 Details

If 337.14 begins to break higher, the technical summary data tells us to buy SYK just slightly over 337.14, with an upside target of 338.73. The data also tells us to set a stop loss @ 336.35 in case the stock turns against the trade. 337.14 is the first level of resistance above 334.305, and by rule, any break above resistance is a buy signal. In this case, 337.14, 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 337.14, target 331.41, Stop Loss @ 337.93. Details

The technical summary data is suggesting a short of SYK if it tests 337.14 with a downside target of 331.41. We should have a stop loss in place at 337.93 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, 337.14, 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 July 19:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	331.07
P2	329.21	331.41	354.09
P3	337.14	338.73	376.11

AI Generated Signals for SYK

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Stryker Corporation (NYSE: SYK) data table below can help you with price action, and we have more details too. Trading plans for SYK are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.