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Medtronic Plc Falls 1.63% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Medtronic Plc (NYSE:MDT) traded in a range yesterday that spanned from a low of $94.79 to a high of $95.78. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $96.10 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Medtronic Plc share prices have moved between a 52-week high of $100.15 and a 52-week low of $76.41 and are now trading 24% above that low price at $94.92 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

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