Stryker Corporation (NYSE: SYK)

Stryker Corporation, together with its subsidiaries, operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment offers implants used in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment provides surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling and emergency medical equipment, and reprocessed and remanufactured medical devices, as well as other medical device products for use in various medical specialties. The Neurotechnology and Spine segment offers neurosurgical and neurovascular devices that include products used for minimally invasive endovascular techniques; products for traditional brain and open skull base surgical procedures; orthobiologic and biosurgery products.
Take a look at the 1-year chart of Stryker (NYSE: SYK) below with added notations:

After rallying nicely from mid-October until the end of December, SYK has been trading sideways over the last 3 months. During the sideways move the stock has formed a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern.
SYK’s rectangle pattern has formed a resistance at $96 (blue) and a $90 support (green). At some point the stock will have to break one of the two levels.

The Tale of the Tape: SYK is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $90 or on a breakout above $96. The ideal short opportunity would be on a break below $90.
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