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- 1/8/2021 -
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Medtronic Inc. (MDT)

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtMACD bearish divergenceTrend resistance at 46.51
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtThe price touches the upper Bollinger BandThe period of low volatility of the stock price
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It was a second consecutive positive week for the Medtronic Inc. (MDT). During the week, the MDT gained 2.57 points, or 2.19%, and closed at 119.71 on Friday, January 8, 2021. Weekly volume was -27% below average.

Long-term trend: [See MDT long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 24.06 and reached 122.15 on January 22, 2020. MDT gained -98.09 points, or -407.69%, in 567 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 53.92 and resistance is at 129.47. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See MDT medium-term trend chart]
A medium-term downtrend had started on January 22, 2020 at 122.15 and reached 72.13 on March 18, 2020. MDT lost 50.02 points, or 40.95%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (46.51). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See MDT weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 10, 2020. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See MDT short-term trend chart]
A short-term uptrend had started on October 30, 2020 at 98.94 and reached 119.87 on January 8, 2021. MDT gained -20.93 points, or -21.15%, in 70 days. Price is near the trend high.

Daily Technical Indicators: [See MDT daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since December 30, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 6.82% on Friday. It is 50.82% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.03
Williams' Percentage Range (W%R) 11.50
Overbought
Lane's Stochastic (%D-Slow) 82.85
Overbought
Greed/Fear Indicator (GFI) 79.46
Moving Average Converg./Diverg. (MACD) 1.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.46
Williams' Percentage Range (W%R) 4.50
Strong Overbought
Lane's Stochastic (%D-Slow) 87.00
Overbought
Greed/Fear Indicator (GFI) 80.07
Overbought
Moving Average Converg./Diverg. (MACD) 3.03 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 129.47
Upper Bollinger Band 119.79
Price 119.71
Daily Stochastic Crossing 119.17
Weekly Stochastic Crossing 118.63
Quarterly Trendline Support 118.33
Monthly Trendline Resistance 115.86
Parabolic System 115.75
20 Day Moving Average 115.49
50 Day Moving Average 111.96
Lower Bollinger Band 111.63
Monthly Trendline Support 107.93
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Equipment 64
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 98.94
Low Date 10/30/2020
High 119.87
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 87.68
Low Date 06/25/2020
High 119.87
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 115.86
Support 107.93
Low 72.13
Low Date 03/18/2020
High 119.87
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 46.51
Support 118.33
High 122.15
High Date 01/22/2020
Low 72.13
Low Date 03/18/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 129.47
Support 53.92
Low 24.06
Low Date 03/09/2009
High 122.15
High Date 01/22/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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