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SYY pushes through key resistance level


Technical Analysis Report for SYY - Apr 16, 2018 [< 1 min read]
Highlights
SYY pushes through key resistance level
SYY dominated by bulls lifting the market higher throughout the day
SYY ends the day on a bullish note closing near the high of the day
SYY pushes through previous session high
SYY rises to highest close since February 1st
TQ Sentiment
Technical Forecast:
Overview

SYY finished Monday at 61.26 gaining $0.84 (1.39%). Today's closing price of 61.26 marks the highest close since February 1st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 60.63, Sysco Corp. confirms its breakout through the prior session's high having traded $0.68 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for SYY
Volatility

Monday's trading range was $0.74 (1.22%), that's slightly below last trading month's daily average range of $0.93. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 61.08 today, it is now likely to act as support going forward.

Trend

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

Order Flow

Trading close to February's high at 62.25 we might see further upside momentum if potential buy stops at the level get triggered.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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