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Watch for Medtronic Plc to Potentially Rebound After Falling 1.44% Yesterday

By Shiri Gupta

Medtronic Plc (NYSE:MDT) traded in a range yesterday that spanned from a low of $93.85 to a high of $95.43. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $96.96 on volume of 2.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Medtronic Plc has traded in a range of $72.13 to $122.15 and is now at $93.61, 30% above that low. The 200-day and 50-day moving averages have moved 0.07% lower and 0.22% lower over the past week, respectively.

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