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Archive
- 4/19/2024 -
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Medtronic Inc. (MDT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Medtronic Inc. (MDT). During the week, the MDT gave back -0.65 points, or -0.81%, and closed at 79.48 on Friday, April 19, 2024. Weekly volume was 14% above average.
 Long-term trend: [See MDT long-term trend chart]
A long-term downtrend had started on September 9, 2021 at 135.89 and reached 68.84 on October 30, 2023. MDT lost 67.05 points, or 49.34%, in 111 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (65.08) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See MDT medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 68.84 and reached 89.18 on January 31, 2024. MDT gained -20.34 points, or -29.55%, in 13 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (90.19) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MDT may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See MDT weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 5, 2024. 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 downtrend had started on March 28, 2024 at 87.73 and reached 78.43 on April 18, 2024. MDT lost 9.30 points, or 10.60%, in 21 days. The price is now at the 11.29% retracement level.
 Daily Technical Indicators: [See MDT daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since April 5, 2024. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
3 |
| Industry |
Health Care Equipment |
51 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
78.43 |
| Low Date |
04/18/2024 |
| High |
79.64 |
| High Date |
04/19/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
87.73 |
| High Date |
03/28/2024 |
| Low |
78.43 |
| Low Date |
04/18/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
89.18 |
| High Date |
01/31/2024 |
| Low |
78.43 |
| Low Date |
04/18/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Support |
| Resistance |
87.19 |
| Support |
90.19 |
| Low |
68.84 |
| Low Date |
10/30/2023 |
| High |
89.18 |
| High Date |
01/31/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
66.38 |
| Support |
65.08 |
| High |
135.89 |
| High Date |
09/09/2021 |
| Low |
68.84 |
| Low Date |
10/30/2023 |
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