This 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.
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 50%.
In my analysis, I use three layers:
fundamental
sentiment
technical
Fundamentally, the company is doing well: revenue and net profit are growing.
Sentiment: Most analysts are leaning towards the stock rising to $283.
Technical analysis: the price is at the lower border of the Bollinger Bands. She spent several days in consolidation. This is indicated by the...
* Excellent earnings
* Very strong up trend
* Very high 3-month relative strength in the Healthcare sector
* Pocket pivot occurred on the right side of the basing pattern with high volume
* Steady increase in price shows tonnes of institutional demand
Trade Idea:
* Now's the perfect time to get in as recent volume is indicating institutional interest
* The...
* Exceptional earnings year over year
* Very strong up trend
* Breaking out of a 4 month consolidation period with 63.09% more volume than average
* Pays out dividends with a Payout ratio of 44.50% which means that the company has a lot of room to grow further and possibly increase dividends as well!
* Probable ROI is 12.98% if the trade goes in our favor
Trade...
We discussed the healthcare including the medical device sector last week (see attached post). SYK was one of the names and today it is making a second attempt to break above the consolidation range. Might be worth a swing long to +$290.
Last: $271.53
Stop: $263.30
Note, sector strength can also be seen in Medtronic Plc (MDT).
With the JSE experiencing delays, it may be time to re-consider an offshore account where you are able to trade multiple markets, including the US, Europe and Australasia. How simple would it be to log onto your offshore account and trade stocks, commodities, FX and crypto?
Interested in a brief chat, get in touch today.
Bullish Pennant formed on a 1-year bull run.
Great risk-reward ratio and target set at a potential formation of a 3-year resistance line.
- Target Entry $251.97
- Target Stop Loss $246.26
- Target Exit $280.85
About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be...
The PEAD projected a Neutral outlook for $SYK after a Positive over reaction following its earnings release placing the stock in drift B
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but look for a test of the bottom trendline, looks like its hitting resistance after the big gap up. either wait for a confirmation of more 52w highs or get in on a dip :) gl !
