SYK ends the day on a bearish note closing near the low of the day

Stryker Corporation (SYK) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team


SYK crashes, loses $2.57 (-1.48%) within a single day
SYK breaks key support level
SYK runs into sellers around 173.62 for the third day in a row
SYK dominated by bears dragging the market lower throughout the day
SYK finds support at 100-day moving average


Moving lower for the 2nd day in a row, SYK ended the week 0.44% higher at 170.50 after tanking $2.57 (-1.48%) today. This is the biggest single day loss in over a month. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 171.81, the stock confirms its breakout through the previous session's low having traded $1.77 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (SYK as at Sep 14, 2018):

Daily technical analysis candlestick chart for Stryker Corporation (SYK) as at Sep 14, 2018

Friday's trading range was $3.58 (2.06%), that's far above last trading month's daily average range of $2.13. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Even with a strong opening the market closed below the prior day's open and close, forming a bearish Engulfing Candle.

Prices are trading close to a key support level at 169.73. Breaking below the key support level at 172.23 today, it is now likely to act as resistance going forward. The share ran into sellers again today around 173.62 for the third trading day in a row after having found sellers at 173.78 in the previous session and at 173.49 two days ago. After trading as low as 170.04 during the day, Stryker Corp. found support at the 100-day moving average at 170.41.

SYK shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

Selling could accelerate should prices move below the nearby swing low at 169.73 where further sell stops might get activated.

Market Conditions for SYK as at Sep 14, 2018

Loading Market Conditions for SYK (Stryker Corporation)...
Latest Report:

SYK climbs to highest close ever

Jun 20, 2019
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Stryker Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!