When (SYK) Moves Investors should Listen

August 09, 2024, 16:56 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for SYK

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short SYK slightly under 329.58, target n/a, stop loss @ 330.53 Details

The technical summary data is suggesting a short of SYK as it gets near 329.58, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 330.53. 329.58 is the first level of resistance above 327.83, and by rule, any test of resistance is a short signal. In this case, if resistance 329.58 is being tested, so a short signal would exist.

Swing Trading Plans for SYK

• Buy SYK slightly over 329.58, target 354.51, Stop Loss @ 328.63 Details

If 329.58 begins to break higher, the technical summary data tells us to buy SYK just slightly over 329.58, with an upside target of 354.51. The data also tells us to set a stop loss @ 328.63 in case the stock turns against the trade. 329.58 is the first level of resistance above 327.83, and by rule, any break above resistance is a buy signal. In this case, 329.58, 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 329.58, target 325, Stop Loss @ 330.53. Details

The technical summary data is suggesting a short of SYK if it tests 329.58 with a downside target of 325. We should have a stop loss in place at 330.53 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, 329.58, 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 329.58, target 354.51, Stop Loss @ 328.81 Details

If 329.58 begins to break higher, the technical summary data tells us to buy SYK just slightly over 329.58, with an upside target of 354.51. The data also tells us to set a stop loss @ 328.81 in case the stock turns against the trade. 329.58 is the first level of resistance above 327.83, and by rule, any break above resistance is a buy signal. In this case, 329.58, 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 329.58, target 326.41, Stop Loss @ 330.35. Details

The technical summary data is suggesting a short of SYK if it tests 329.58 with a downside target of 326.41. We should have a stop loss in place at 330.35 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, 329.58, 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 August 09:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	329.58
P2	319.22	316	354.51
P3	326.41	325	377.99

AI Generated Signals for SYK

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Stryker Corporation (NYSE: SYK) report below is a real world example. Included are trading plans for SYK, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.