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Medtronic Plc Set to Possibly Pullback After Yesterday's Rally of 2.15%

By Nick Russo

Medtronic Plc (NYSE:MDT) traded in a range yesterday that spanned from a low of $112.07 to a high of $113.32. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $112.31 on volume of 890,000 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 $114.46 and is now at $112.23, 37% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% 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