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Would Stryker Break Its Pattern? 11-Jan-2011

|Includes: AA, SHLD, Stryker Corporation (SYK), TIF

Hello trader the general markets go up today because of good earnings report from Alcoa Inc (NYSE:AA), Sears Holding Corporation (NASDAQ:SHLD) and Tiffany & Co (NYSE:TIF). I also have one nice stock pick for you. Here is the stock:

 

As of this writing, Stryker Corp (NYSE:SYK) still couldn't break its cup without handle resistance although there are many buyers (high volume). I see that today's volume is high compared to its average volume. Maybe this will sound so speculating, but I think the stock probably would go up and break the resistance with high volume too. I could say that because there are many unfinished breakout stock and  they finally can break the pattern on the next day with high volume. But this analysis is not compatible with all types of traders. This is just for you who like to take a higher risk and not for a beginner trader. For the beginner traders, you can put the stock into your watchlists and buy it after the stock break its cup without handle's resistance (with high volume, off course) and make its new 52 weeks high.

Goodluck!



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