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Recent 52-Week High Exceeded in Shares of Stryker (SYK)

By Shiri Gupta

Stryker (NYSE:SYK) traded at a new 52-week high today of $136.71. Approximately 64,000 shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.

Stryker Corporation develops, manufactures, and markets specialty surgical and medical products. The Company's products include implants, biologics, surgical, neurologic, ear, nose & 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 has traded in a range of $86.68 to $136.71 and is now at $136.57, 58% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

Stryker (NYSE:SYK) is currently priced 4.1% above its average consensus analyst price target of $130.95. The stock should discover initial support at its 50-day moving average (MA) of $106.63 and subsequent support at its 200-day MA of $99.25.

SmarTrend recommended that subscribers consider buying shares of Stryker on November 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $115.82. Since that recommendation, shares of Stryker have risen 17.7%. We continue to monitor SYK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Stryker

Ticker(s): SYK