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After Yesterday's Rally of 1.74% Shares Could Potentially Pullback

By Nick Russo

Medtronic Plc (NYSE:MDT) traded in a range yesterday that spanned from a low of $80.32 to a high of $81.94. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $81.81 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $81.74, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for Medtronic Plc and will alert subscribers who have MDT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders medtronic plc

Ticker(s): MDT