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Sysco Corp Rises 1.23% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Sysco Corp (NYSE:SYY) traded in a range yesterday that spanned from a low of $66.56 to a high of $67.63. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $67.04 on volume of 743,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Sysco Corp share prices have been bracketed by a low of $52.30 and a high of $75.98 and are now at $67.08, 28% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Sysco Corp on October 10th, 2018 by issuing a Downtrend alert when the shares were trading at $71.17. Since that call, shares of Sysco Corp have fallen 6.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders sysco corp

Ticker(s): SYY