Sysco Corporation Forecast and Stock Analysis
Technical SYY stock analysis for March 15, 2019.
|Shorts||2.94% ( 2019-02-28 )|
Sysco Corporation gained 0.23% in the last trading day, rising from $66.12 to $66.27 The price has fallen in 7 of the last 10 days and is down by -1.94% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 5.55 million more shares were traded than the day before. In total, 7.79 million shares bought and sold for approximately $516.15 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the SYY stock was $66.27. This is 0.23% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 1.26% from a day low at $65.82 to a day high of $66.65.
30 day high of the SYY stock price was $67.89 and low was $65.24.
90 day high was $67.89 and low was $59.44.
52 week high for the Sysco Corporation - $75.98 and low - $58.12.
Sysco Corporation lies in the lower part of a weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $65.60 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.99% during the next 3 months and, with 90% probability hold a price between $72.16 and $76.54 at the end of this period.
Only positive signals in the chart today. Sysco Corporation holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $66.16 and $65.95. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday March 08, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 39 and the stock is currently not being overbought or oversold
Support & Resistance
Sysco Corporation finds support from accumulated volume at $65.35.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.83 (1.26%) between high and low. For the last week, the stock has had a daily average volatility of 0.97%.
Our recommended stoploss: $62.24 (-6.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Strong Buy Candidate
Sysco Corporation holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.