MedTech Leader Stays in Strong Bull Flag Trend Near Highs
Stryker (SYK) shares are curling higher off the 55 day MA test of support near 280 and has formed a bullish weekly candle this week being green both days so far as the market sold off. SYK can continue to see relative strength as the group is more defensive and Medtech in general is lower beta. A move to the 400 round number is likely a easy target while a bigger breakout from there could see objectives up at 425-430 this year. Recent large buyers of 400 June $440 calls at $3.30 on 2/12 and the large 1000 January 2027 $370 calls hold in OI.