|
|
Downtrend Broken Resist.Archive
- 12/13/2024 -
Sign In to see current Signals. |
Medtronic Inc. (MDT) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Medtronic Inc. (MDT). During the week, the MDT dropped -1.53 points, or -1.82%, and closed at 82.48 on Friday, December 13, 2024. Weekly volume was -13% below average.
MDT is a member of Health Care Sector. Health Care is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 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 (59.82) 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 July 9, 2024 at 75.96 and reached 92.68 on October 24, 2024. MDT gained -16.72 points, or -22.01%, in 15 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (95.20) 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 Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 Lane's Stochastic help.
The weekly MACD line is below its signal line since November 15, 2024. 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 October 24, 2024 at 92.68 and reached 81.88 on December 13, 2024. MDT lost 10.80 points, or 11.65%, in 50 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 76.35 and resistance is at 84.33. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See MDT daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since December 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
| |
|
|