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Archive
- 4/5/2024 -
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Stryker Corp. (SYK) Technical Analysis
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| Summary:
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| | It was the negative week for the Stryker Corp. (SYK). During the week, the SYK dropped -6.85 points, or -1.91%, and closed at 351.02 on Friday, April 5, 2024. It was the worst weekly loss since December 8, 2023. Weekly volume was -36% below average.
 Long-term trend: [See SYK long-term trend chart]
A long-term uptrend had started on March 20, 2009 at 30.82 and reached 361.41 on March 11, 2024. SYK gained -330.59 points, or -1072.65%, in 781 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (158.85) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See SYK medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 249.98 and reached 361.41 on March 11, 2024. SYK gained -111.43 points, or -44.58%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 345.91 and resistance is at 362.01. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See SYK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See SYK short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 359.50 and reached 346.83 on April 4, 2024. SYK lost 12.67 points, or 3.52%, in 7 days. The price is now at the 33.07% retracement level.
 Daily Technical Indicators: [See SYK daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
The daily MACD line is below its signal line since February 23, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.65% on Friday. It is 59.64% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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