The Stryker Corporation share is a perennial performer. Year to date, the share price has gained 29.3%. New all-time highs have been reached constantly over the course of the year. But will it just continue like this?
After the last rally, the stock reached the upper trend channel limit of the current uptrend. Our main scenario envisages a sideways consolidation from here. This should move between 365 – 405 USD and may well be accompanied by a few false breakouts on the upside. In the long term, however, we see the stock continuing to rise.
The chart picture would become significantly bleaker below USD 360 and especially below USD 325. This would halt the long-term upward trend for the time being.
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