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Uptrend Broken SupportArchive
- 5/3/2024 -
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Sysco Corp. (SYY) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Sysco Corp. (SYY). During the week, the SYY dropped -1.71 points, or -2.22%, and closed at 75.36 on Friday, May 3, 2024. Weekly volume was 60% above average.
SYY is a member of Consumer Staples Sector. Consumer Staples is the second most overbought sector. SYY is a member of Food Distributors Industry. Food Distributors is the ninth most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SYY long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 91.53 and reached 62.24 on October 6, 2023. SYY lost 29.29 points, or 32.00%, in 76 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (74.85). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See SYY medium-term trend chart]
A medium-term downtrend had started on February 2, 2024 at 82.89 and reached 72.89 on May 1, 2024. SYY lost 10.00 points, or 12.06%, in 12 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See SYY weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See SYY short-term trend chart]
A short-term downtrend had started on April 25, 2024 at 77.95 and reached 72.89 on May 1, 2024. SYY lost 5.06 points, or 6.49%, in 6 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 70.44 and resistance is at 77.83. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See SYY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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