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Look for Shares of Medtronic Plc to Potentially Pullback after Yesterday's 1.15% Rise

By James Quinn

Medtronic Plc (NYSE:MDT) traded in a range yesterday that spanned from a low of $108.10 to a high of $108.74. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $107.61 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Medtronic Plc has traded in a range of $81.66 to $112.05 and is now at $108.66, 33% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% 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