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Archive
- 11/8/2024 -
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Sysco Corp. (SYY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Sysco Corp. (SYY). During the week, the SYY gained 2.36 points, or 3.15%, and closed at 77.39 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. Weekly volume was 7% above average.
SYY is a member of Consumer Staples Sector. Consumer Staples is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SYY long-term trend chart]
A long-term uptrend had started on October 6, 2023 at 62.24 and reached 82.89 on February 2, 2024. SYY gained -20.65 points, or -33.18%, in 17 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 72.12 and resistance is at 78.67. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See SYY medium-term trend chart]
A medium-term uptrend had started on July 10, 2024 at 69.03 and reached 79.65 on September 6, 2024. SYY gained -10.62 points, or -15.38%, in 8 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See SYY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See SYY short-term trend chart]
A short-term downtrend had started on September 6, 2024 at 79.65 and reached 72.49 on October 29, 2024. SYY lost 7.16 points, or 8.99%, in 53 days. The price is now at the 68.44% retracement level.
 Daily Technical Indicators: [See SYY daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 link to access Lane's Stochastic help.
The daily MACD line is above its signal line since October 30, 2024.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
The price touches the upper Bollinger Band. 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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