Sysco $SYY stock has formed a downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... breakout chart pattern as of October 30, 2022. Early in October 2022, we had unusual dark pool trading in $SYY stock.
Dark Pool Trading In Sysco Stock
Unusual dark pool trading occurred in $SYY stock on October 4, 6, and 20th, 2022. We think the unusually large dark pool orders were buying because of how Sysco stock rose following the prints.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
Bullish Option Flow In $SYY Stock
Bullish option flow occurred in $SYY stock on October 26, 2022. Open interest has exploded higher in the $90 call option contract that expires on November 18, 2022.
Make sure to review this lesson on option flow so that you understand the image above.
Sysco price target lowered at Barclays
On October 20, 2022, Barclays analyst Jeffrey Bernstein lowered the company’s price target on Sysco to $92 from $100 and maintained an overweight rating on the stock. Resilience was surprising in third-quarter salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... for restaurants, Bernstein told investors in a research note. Sales re-accelerated modestly from a June pullback, the firm said. While outsized pricing is intact, there are signs of easing food inflation and labor shortages. He cannot ignore concerns about a looming recession, but he doesn’t see any material signs of one at this time, since eating is not a discretionary activity.
Kevin Hourican, Sysco’s President and CEO appears on Mad Money with Jim Cramer (May 2022)
Sysco $SYY Stock Technical Analysis
Sysco $SYY stock is in a technical weak downtrend. The stock has formed a downtrend channel breakout pattern on the chart. There is tough resistance ahead up to $90 per share. A break above $90 would put the stock in a technical uptrend.
