Stryker Corporation is a Fortune 500 medical devices company. It is very well-known for its implants, surgical equipment, endoscopic and communications systems, neurosurgical devices, and other medical devices. The market for these devices has plenty of growth runway and Stryker is an established brand-name in over 100 countries. It does business directly with hospitals, doctors, and healthcare facilities, placing the company in prime position to leverage the overall industry growth.
The 10-year monthly chart for Stryker shows an almost decade-long uptrend that the stock has been in. This uptrend was halted in the middle of 2019 and the stock dropped by about 56%, hitting a low in March 2020. However, the price has retraced by about 45% from that low. In July, the stock has bounced up from the bottom of the long-term trend as well as a historic resistance-turned-support line at $179. This can be a strong trigger for a long position with an initial target of $199 and then subsequently of $223. Stop loss can be placed somewhere near $170.
Position taken today at $ 180.02 with stop loss 19.45% below at $145. With short term take profit at $236 giving a return of 31%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.