Hey people, MEDTRONIC is giving fakes signals of a decline in sales volume for two sessions, and is looking to turn around and start its climb again. Great likelihood of breaking with force the line which tells the story of MEDTRONIC to reach the last previous high point, we can even land in the gap to fill it only if the buyers are back in force.
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MDT forming a triangle or a bullish pennant.
An inverse H&S also in play, Both patterns indicating price target of around 100.
Disclaimer: Not an advice to Sell or Buy!!
We have definitely risen above the upper resistance levels which have been in place since July of 2016. Short term price action uncertain. With RSI popping above 70, we are due for a short term correction. However, with the resistance broken, we may continue upward further and come back to test the new support in a few weeks.
Medtronic Plc has recently agreed to acquire all outstanding shares of spinal surgery device maker, Medicrea at €7.00/share, representing a 22% premium over Friday's closing price. This merger and acquisition has driven the share price to move up as well as giving the stock a promising future amidst the advent of second wave of the pandemic which most of the...
