SYY - Sysco Corporation $55.25 -1.13 (+1.50)

North American food distributor Sysco Corporation broke through resistance on Wednesday. The stock traded to an intra-day high of $56.50 on average volume. On Thursday, shares of SYY hit an all-time high of $57.69 before pulling back into negative territory on heavy volume of 1.5 million shares. On the positive side, SYY was able close above the $55 mark. We are now just 11 sessions away from the 2:1 split, payable on December 15, and we expect $55 to serve as new support for a split run. SYY has additional support at $53.50, the 20-dma. Resistance has come in at Wednesday's intra-day high of $56.50 and then $57.69, the all-time high. Traders may consider opening new positions on a bounce off of $55 or a move above $56.50 on midday volume greater than 400,000 shares. Our stops are holding steady at $49.50 to limit potential losses.

Picked on November 9th @ $53.94 Change since picked +1.31