• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Stryker Corp (NYSE:SYK)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Stryker Corp (NYSE:SYK) based on the price action in the company's shares. Today's price range of $188.32 and $189.62 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Stryker Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $188.32, Stryker Corp is currently 4.6% above its average consensus analyst price target of $179.59. The stock should hit resistance at its 50-day moving average (MA) of $191.19, as well as support at its 200-day MA of $174.74.

Stryker Corporation develops, manufactures, and markets specialty surgical and medical products. The Company's products include implants, biologics, surgical, neurologic, ear, nose and throat and interventional pain equipment, endoscopic, surgical navigation, communications and digital imaging systems, as well as patient handling and emergency medical equipment.

Over the past year, Stryker Corp has traded in a range of $144.75 to $199.85 and is now at $188.32, 30% above that low. The 200-day and 50-day moving averages have moved 0.14% higher and 0.07% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Stryker Corp and will alert subscribers who have SYK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Stryker Corp

Ticker(s): SYK