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Bearish Moving Average Cross by Medtronic Plc (MDT)

By Amy Schwartz

Medtronic Plc (NYSE:MDT) shares have crossed bearishly below their 10-day moving average of $107.71 on a volume of 965K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Medtronic Plc has traded in a range of $81.66 to $109.70 and is now at $106.42, 30% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Medtronic Plc on May 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $89.49. Since that recommendation, shares of Medtronic Plc have risen 20.6%. We continue to monitor MDT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses medtronic plc

Ticker(s): MDT