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Watch for Continued Gains in Shares of Stryker (SYK)

By David Diaz

Shares of Stryker (NYSE:SYK) traded today at $145.62, breaking its 52-week high. Approximately 155,000 shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.

Stryker (NYSE:SYK) defies analysts with a current price ($145.35) 9.9% above its average consensus price target of $130.95. Stryker shares have support at the 50-day moving average (MA) of $106.63 and additional support at the 200-day MA of $99.25.

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 $145.62 and is now at $145.35, 68% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

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 24.9%. 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