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Bearish Moving Average Cross by Medtronic Plc (MDT)

By Shiri Gupta

Medtronic Plc (NYSE:MDT) shares have crossed bearishly below their 10-day moving average of $80.32 on a volume of 643K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Medtronic Plc have traded between a low of $69.35 and a high of $89.72 and are now at $80.16, which is 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Medtronic Plc on July 21st, 2017 by issuing a Downtrend alert when the shares were trading at $85.45. Since that call, shares of Medtronic Plc have fallen 5.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses medtronic plc

Ticker(s): MDT