10/07/2024 - Here is a new SELL breakout chosen by computer scanStop: 371.96
Entry: 345.14 or lower
Target: 317.45
SYK trade ideas
To FastWe have reached the all-time-high again. If we cannot overcome it then a downward correction is due. This is the more that we have risen very fast since yesterday, a rise that usually takes 2-3 weeks in a "normal" market.
There are reasons for this spike of course, but the rule is that there are always some swing traders on board that will take profit when the momentum becomes declining.
Extreme Spike1 1/2 hour go we faced a long spike up. This is unusual at a top of the market. It may indicate a beginning reversal for profit taking sake; especially ahead of the options expiry today and the forthcoming weekend.
Multiple SupportThe supports here are :
- The January highs before the spike up,
- 3 MAs.
We are still in a valid uptrend. The recent decline may be considered as a correction due.
Timing the market - what's wrong with buying at lower price ?Absolutely no UNLESS you have lots of spare cash or ignorant that you can get it at a lower price. Then again, who's right or wrong will depend on a later time when you look back.
Look at Meta chart ( ) Of course, it could still comes down to close the gap before going up, the question is when .
I also showed how long the gaps took to close in Amazon case.
So, if you had done your due diligence, then you can buy in tranches ,like 10% to initiate a small position. Then, if it drops and close the gap, you can buy more at 15-20% depending on your capital.
Spending too much time to TIME the market to me is a guessing game , sometimes you get lucky and other times you don't. Unless you like the hassle of monitoring the charts all day and get euphoric watching it , then go ahead else don't sweat the small stuff.
Invest your time wisely !
SYK - BullishSYK is going to come out of its coiled up range soon, and the probabilities are there for it to rise up to 340-345 price range.
Good luck!
Window Still OpenIn a first attempt to overcome the prevailing since October uptrend and to turn it around or achieve a major downward correction at least we have failed in April.
Today some American players used the absence of the most other markets due to Labour Day to try it again. Nevertheless it became a dramatic fight against the bulls and the bears could not manage to close the January window.
The bearish forces are obviously not yet strong enough to turn the trend around so that I expect the next attack of the bulls now.
This week will show who wins.
Correction StartedThe rounding weekly top suggests an upcoming major decline due to the outstanding correction for almost half a year. For almost half a year we have not seen any correction so that we can consider the market as heavily overbought.
SYK - Short lookout toward buying continuationWill be looking to enter a short here if we do fail teal controlled selling and see that magenta is in control. I expect price wants to come down to at least purple buying continuation to find support for a continued move upward.
Happy Trading :)
- TraderDaddyOG
SYK testing key resistanceStryker Corp. (SYK) presently trading above key resistance, able to absorb weekly selling pressures.
A weekly settlement above this resistance zone would place (SYK) into a buy signal where gains of 20% would be expected over the following 3 - 5 months.
Inversely, failing to close above this resistance level on a weekly basis, or closing back below this resistance level on a weekly basis, would lead to bearish momentum where losses of 20% would be expected over the same time horizon.
SYK and IHI vs NVO's GLP1NYSE:SYK - The market is trying to price in the impact of NYSE:NVO and NYSE:LLY GLP1's on treatments associated with diabetes and obesity. This has led to a broad drawdown across medical devices, with IHI medical devices ETF dropping about 10% this week.
Note the middle of this chart where I've compared IHI/NVO to SYK/NVO. SYK specializes in medical devices for neurotech, orthopedic, and spine which should have minimal overlap with health benefits of GLP1.
Yesterdays open erased 2023 gains before reversing. It's unclear whether we can expect it to recover from here or test a deeper area of value between 220-240. As it recovers we should anticipate some selling pressure between 275-280.
$SYK with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:SYK after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
Stryker (NYSE:SYK), one of the world’s leading medical !Stryker (NYSE:SYK), one of the world’s leading medical technology companies, today.
Stryker's Tornier Pyrocarbon Humeral Head is the first FDA-cleared pyrocarbon implant for shoulder hemiarthroplasty in the U.S.
You can see on the chart how (NYSE:SYK) is coming up from the accumulated position!
Idea
Long 289
Profit 311
Stop 280
Risk/Reward 2.66
$SYK near ATH!RS ratio and OBV already broke out and are near highs.
I added today for the CMT Investment Challenge in anticipation of the breakout above $280.
If it breaks that resistence level I'll buy for my personal portfolio.
$SYK with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SYK after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 88.89%.
$SYK with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SYK after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
StrykerI think this could be a bearish continuation H&S, I await confirmation below 200, the volumes seem correct to me
$SYK stage 4Bearish
Multi-rejections at top
Multi retest neck-line rejection
Momentum bearish divergence
Bear flag
Pin bar
Cheers and happy trading!
$SYK with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SYK after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 50%.
$SYK with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $SYK after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
Will we see $300 soon?On the weekly charts, SYK's initial uptrend was broken in end Feb 2020 when major moving averages turned the trend around. Prices tanked significantly and kudos to you if you managed to catch the strong reversal in Sep 2020. It's time for traders and investors to take a pause at this point as we carry on into May 2022. I'm looking and waiting for confirmation of the trend line at current levels of $271.67 and if this key level holds, we will see higher levels up to and beyond $300.
SYK - This One Has Me WorriedThis stock has been like gold. Buy it and forget it....Automatic right?
This formation has me worried about the overall market. Not too much time I'm afraid... because if the formation goes to completion on this stock....well you forget about all the other stocks in the market universe.
