Leading food distributor, Sysco Corp (SYY), is declining again today by $0.98 to $75.98 a share. This stock topped out in late December 2019 at $85.98 a share. The stock is now trading below it’s 200-day moving average. This puts the equity in a weak technical position on the charts. Trader should now watch the $70.00 area for solid support in the near term. This support area is where there is a major gap fill from August 9, 2019. very often, major gap fill levels will serve as strong support when initially tested.
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