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SmarTrend Watching for Potential Rebound in Shares of Medtronic Plc After 2.15% Loss

By Shiri Gupta

Medtronic Plc (NYSE:MDT) traded in a range yesterday that spanned from a low of $104.88 to a high of $106.96. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $106.97 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Medtronic Plc has traded in a range of $81.66 to $112.05 and is now at $106.56, 30% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

Keywords: rebounders medtronic plc

Ticker(s): MDT