SYK climbs to highest close since March 21st
Stryker Corp. (SYK) Technical Analysis Report for Apr 16, 2018
SYK ended Monday at 162.06 surging $3.71 (2.34%). This is the biggest single day gain in over a month. Today's closing price of 162.06 marks the highest close since March 21st. Closing above Friday's high at 160.08, the stock confirms its breakout through the previous session's high having traded $2.55 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Monday's trading range was $3.03 (1.89%), that's slightly below last trading month's daily average range of $3.34. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Breaking through the key resistance level at 160.83 today, it is now likely to act as support going forward. After trading as low as 159.60 during the day, the share found support at the 50-day moving average at 159.78.
The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. SYK managed to break above the 50-day moving average at 159.78 today for the first time since April 10th.
Even though both sentiments are bullish for the next trading day, our quantitative statistics are only bullish while the classical technical analysis metrics show a very bullish sentiment.
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