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Downtrend ResistanceArchive
- 4/19/2024 -
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Sysco Corp. (SYY) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Sysco Corp. (SYY). During the week, the SYY gained 1.48 points, or 1.97%, and closed at 76.73 on Friday, April 19, 2024. It was the best weekly gain since February 2, 2024. Weekly volume was -15% below average.
 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 (75.17). 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 uptrend had started on October 6, 2023 at 62.24 and reached 82.89 on February 2, 2024. SYY gained -20.65 points, or -33.18%, in 17 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (86.30) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. SYY may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See SYY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See SYY short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 74.66 and reached 76.77 on April 19, 2024. SYY gained -2.11 points, or -2.83%, in 2 days. Price is near the trend high.
 Daily Technical Indicators: [See SYY daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 27, 2024.
A Parabolic SAR (stop and reversal) indicator (76.82) comes close to the price (76.73). It indicates that the trend is getting weaker. 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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