SYY - CoilingSysco is coiling. Will break to either direction. Im leaning towards the $83.50 zone. However if it were to drop, I can see it going to $76.
Not financial advice. Good luck
0LC6 trade ideas
BUY TODAY SELL TOMORROW for 5%DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and the rest of the time they either consolidate or fall.
Trendline Breakout in SYY
BUY TODAY SELL TOMORROW for 5%
Sysco Corp. testing long-term supportSysco Corp. (SYY) presently testing long-term support, able to absorb monthly selling pressures.
From here (SYY) can turn higher to channel resistance, eliciting gains of 10% - 15% over the following 2 - 3 months, and gains of 20% over the following 5 - 6 months.
Inversely, a settlement below long-term support would elicit a sell signal where loss of 20% would be anticipated over the following 3 - 5 months.
Bullish divergence SYY (Sysco) on Weekly, including buy trigger Nice bullish divergence on weekly, on in fact all indicators I tend to use:
EFI, MACD-H, MACD lines, ATR channel divergence, EFI ATR channel divergence
Buy trigger bar, after latest red bar, price went down after open and then close way above, which is a bullish trigger
R/R:
TP1: 1:2. (1 ATR)
TP2: 1:3,2 (2 ATR)
E: 72.76
SL: 69.71
TP1: 78.87
TP2: 82.49
Entry strategy:
50% right away, 50% later on a 1st HL
trade number: #2023004
Current Trade score 0/1: 0%
(Total trades: 4, Closed: 1)
Sysco Corporation – Beginning of Long-Term Correction?If you like this idea, please don’t forget to Boost it.
Fundamental Indicators:
Sector – Consumer Defensive
US Business Cycle Stage – late cycle, when this sector is favourable
Revenue – not a consistent growth, 2020 and 2021 broken the uptrend, however 2022 TTM is considerably higher than the previous year
Profits – same as revenue
Net margin – low margin business with just 1.98%
P/E – quite high with 32 ratio compared to S&P500 with 21 and Consumer Defensive sector with 23
Liabilities - debt ratio is at 0.94 which is a little over the norm, Net Debt/ EBITDA is at 3.01 which is acceptable – increasing rates will have negative impact on servicing the debt
Conclusion – although performance of the company in 2022 TTM is considerably better than in the previous year, several factors like rising rates which will increase servicing of higher than normal debt, will eat into already low margins, as well as worsening economic situation, high PE – all are negative factors which are likely to impact stock price
Technical Analysis (Elliott Waves):
Main scenario of this idea suggests that we are still observing development of the global growth cycle which is currently at the stage of starting wave 4 (see higher timeframe graph)
Since the correction after the Great Financial Crisis of 2008 the company has enjoyed explosive growth. However, the bull run was very choppy with multiple crossings which is always a good sign of an Ending Diagonal (see guidelines for Ending Diagonals below) that has completed global wave 3
From that peak which culminated in April 2022 we can see a new mid-term bear move is forming with first leg as a double zigzag in wave W and ABC zigzag in wave W
The next wave may present a good shorting opportunity with initial target of $68
This is a higher timeframe to reflect the full history of Sysco Corporation and to provide full wave count:
This is the link to the guidelines for Ending Diagonals
What do you think about Sysco Corporation and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves. And BOOST this idea if you like it.
Thanks
Sysco Corp USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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Breakout in $SYY?Certainly appears so, according to my crayon drawing... but in this market? I did not take the trade, not quite enough volume for me when my omnipresent device chirped for my attention... (Which means it has a greater likelihood of being a big winner because stocks I buy only go down and so on).
Anyways. I don't like that declining volume on the Weekly.
Today, 2/24, the Daily, volume was 28% above average which is encouraging. Also, it was an Inside Day today.
Sysco should be considered a COVID recovery play IMO. EPS re-accelerating. Revenues returning and possibly surpassing pre-pandemic levels.
RED FLAG WARNING- I haven't read the call, but I'm guessing they are fairly susceptible to inflation and margin pressure.
Maybe it's building a handle? Is that reserved only for cups?
Onto the Focus list it goes.
SYSCO CORP View DailyHello traders, SYSCO CORP is a fake bearish push with low buying volume and there is an attempt by pent-up buyers. On the TIMEFRAME 1 min we see a bearish continuation which goes in the direction of its last previous lower. Great likelihood of going to the next highest but between a big level to pass. Which lies below in the shadow of the next high to fill the bullish gap.Please LIKE & FOLLOW, thank you!
SYSCO CORP Earnings Monday
P/E ratio 25.
Bullish reversal on indicators.
Strong resistance from trend line exists a break above could be the buy signal
Company profile
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, Other, and Corporate. The U.S. Foodservice Operations consists of U.S. Broadline operations, custom-cut meat and seafood companies, FreshPoint, and European Imports. The International Foodservice Operations segment includes broadline operations in Canada and Europe, including the Brakes Group, Bahamas, Mexico, Costa Rica, and Panama. The SYGMA segment represents its customized distribution subsidiary. The Other segment covers hotel supply operations and Sysco Labs, which includes suite of technology solutions. The company was founded by John F. Baugh in 1969 and is headquartered in Houston, TX.
