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Uptrend ExhaustionArchive
- 4/26/2024 -
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Medtronic Inc. (MDT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Medtronic Inc. (MDT). During the week, the MDT climbed 0.26 points, or 0.33%, and closed at 79.74 on Friday, April 26, 2024. Weekly volume was -12% 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 (64.92) 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 (91.09) 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 strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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. 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 14.09% retracement level.
 Daily Technical Indicators: [See MDT daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic 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. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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