(SYK) Trading Advice

May 18, 2024, 18:42 pm ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SYK

• Buy SYK slightly over 314.92 target 340.27 stop loss @ 314.01 Details

The technical summary data tells us to buy SYK near 314.92 with an upside target of 340.27. This data also tells us to set a stop loss @ 314.01 to protect against excessive loss in case the stock begins to move against the trade. 314.92 is the first level of support below 334.68 , and by rule, any test of support is a buy signal. In this case, support 314.92 would be being tested, so a buy signal would exist.

• Short SYK slightly under 340.27, target 314.92, stop loss @ 341.25 Details

The technical summary data is suggesting a short of SYK as it gets near 340.27 with a downside target of 314.92. We should have a stop loss in place at 341.25though. 340.27 is the first level of resistance above 334.68, and by rule, any test of resistance is a short signal. In this case, if resistance 340.27 is being tested, so a short signal would exist.

Swing Trading Plans for SYK

• Buy SYK slightly over 340.27, target 364.65, Stop Loss @ 339.29 Details

If 340.27 begins to break higher, the technical summary data tells us to buy SYK just slightly over 340.27, with an upside target of 364.65. The data also tells us to set a stop loss @ 339.29 in case the stock turns against the trade. 340.27 is the first level of resistance above 334.68, and by rule, any break above resistance is a buy signal. In this case, 340.27, 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 340.27, target 333.78, Stop Loss @ 341.25. Details

The technical summary data is suggesting a short of SYK if it tests 340.27 with a downside target of 333.78. We should have a stop loss in place at 341.25 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, 340.27, 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 335.17, target 340.27, Stop Loss @ 334.39 Details

If 335.17 begins to break higher, the technical summary data tells us to buy SYK just slightly over 335.17, with an upside target of 340.27. The data also tells us to set a stop loss @ 334.39 in case the stock turns against the trade. 335.17 is the first level of resistance above 334.68, and by rule, any break above resistance is a buy signal. In this case, 335.17, 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 335.17, target 333.78, Stop Loss @ 335.95. Details

The technical summary data is suggesting a short of SYK if it tests 335.17 with a downside target of 333.78. We should have a stop loss in place at 335.95 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, 335.17, 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 May 18:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	314.92
P2	327.62	326.82	340.27
P3	335.17	333.78	364.65

AI Generated Signals for SYK

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Stryker Corporation (NYSE: SYK) while incorporating prudent risk controls.

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.