{"id":11416,"date":"2011-05-09T13:08:37","date_gmt":"2011-05-09T17:08:37","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11416"},"modified":"2011-05-09T13:08:37","modified_gmt":"2011-05-09T17:08:37","slug":"gap-battle-and-go-syy","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/gap-battle-and-go-syy","title":{"rendered":"Gap, Battle and Go (SYY)"},"content":{"rendered":"<p>SYY gapped up on the open after earnings.<\/p>\n<p><strong>Intraday Fundamentals<\/strong><\/p>\n<p>From Reuters:<\/p>\n<blockquote><p>* Q3 EPS $0.46 vs est $0.41<\/p>\n<p>* Q3 sales $9.76 bln vs est $9.48 bln<\/p>\n<p>* Shares up 11 pct, at year-high (Compares with estimates, adds background in paragraoh 2; updates shares)<\/p>\n<p>May 9 (Reuters) &#8211; Top U.S. food distributor Sysco Corp reported quarterly results that easily beat analysts&#8217; expectations, as demand for its products rose even as it increased prices, sending its shares up as much as 11 percent to a year-high.<\/p><\/blockquote>\n<p><strong>Technicals:<\/strong><\/p>\n<p>On our long term charts we identified 30, 31.50, and 32 as points of interest.<\/p>\n<p><strong>The Tape:<\/strong><\/p>\n<p>Right on the open there was high volume and a battle at 30.60ish. \u00a0SYY moved away from this price.<\/p>\n<p>When a stock has gapped up, has room to run on our longer term technicals, battles at a level and then seems to hold this level, this is an excellent risk\/reward trade. \u00a0Let&#8217;s call it the Gap, Battle and Go Trade.<\/p>\n<p>There was the most buying around 30.63 that followed an inability to trade below 30.50. \u00a0The trade is buy near 63c with a stop below 50c and play for an opening drive. \u00a0Near 31.50 you take the trade off and reevaluate as this is the next important technical resistance level.<\/p>\n<p>Perhaps you can make this trade you own.<\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author, <a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=pd_sim_b_4\">One Good Trade<\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/syy.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11417\" title=\"syy\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/syy.png\" alt=\"\" width=\"497\" height=\"420\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/syy.png 710w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/syy-300x253.png 300w\" sizes=\"auto, (max-width: 497px) 100vw, 497px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SYY gapped up on the open after earnings. Intraday Fundamentals From Reuters: * Q3 EPS $0.46 vs est $0.41 * Q3 sales $9.76 bln vs est $9.48 bln * Shares up 11 pct, at year-high (Compares with estimates, adds background in paragraoh 2; updates shares) May 9 (Reuters) &#8211; Top U.S. food distributor Sysco Corp reported quarterly results that easily &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/gap-battle-and-go-syy\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4676,1246,4674,1790,1193,653,1354,1349],"class_list":["post-11416","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-day-trading","tag-gap-and-go","tag-one-good-trade","tag-syy","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gap, Battle and Go (SYY) | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/gap-battle-and-go-syy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gap, Battle and Go (SYY) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"SYY gapped up on the open after earnings. Intraday Fundamentals From Reuters: * Q3 EPS $0.46 vs est $0.41 * Q3 sales $9.76 bln vs est $9.48 bln * Shares up 11 pct, at year-high (Compares with estimates, adds background in paragraoh 2; updates shares) May 9 (Reuters) &#8211; Top U.S. food distributor Sysco Corp reported quarterly results that easily ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/gap-battle-and-go-syy\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-05-09T17:08:37+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/syy.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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