MDT pushes through prior session high
Medtronic plc. (MDT) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, MDT ended the week 0.72% higher at 97.01 after gaining $0.06 (0.06%) today. Today's closing price of 97.01 marks the highest close since Inception. Trading up to $0.30 lower after the open, Medtronic plc managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Thursday's high at 97.00, the share confirms its breakout through the prior session's high having traded $0.28 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (MDT as at Sep 14, 2018):
Friday's trading range was $0.63 (0.65%), that's below last trading month's daily average range of $1.08. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 96.50.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
With prices trading close to this year's high at 97.38, upside momentum could accelerate should the stock be able to break out to new highs for the year.