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$81.33 (-1.61%)

Volume: 7.1M

Closed: Sep 26, 2022

Hollow Logo Score: -4.054

Medtronic plc Stock Forecast

$81.33 (-1.61%)

Volume: 7.1M

Closed: Sep 26, 2022

Score Hollow Logo -4.054
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 36 and the stock is currently not being overbought or oversold
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Medtronic plc stock price ended on $81.33 on Monday after losing 1.61%
(Updated on Sep 26, 2022)


Sell candidate since 2022-09-21 Loss -5.13% PDF

The Medtronic plc stock price fell by -1.61% on the last day (Monday, 26th Sep 2022) from $82.66 to $81.33. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 2.36% from a day low at $80.69 to a day high of $82.59. The price has fallen in 8 of the last 10 days and is down by -11.66% for this period. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $577.43 million.

The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($85.57) are considered to be a "second chance" to get out. According to the fan-theory $77.09 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Medtronic plc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $85.95 and $90.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 12, 2022, and so far it has fallen -11.66%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.91 between high and low, or 2.36%. For the last week, the stock has had daily average volatility of 2.39%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations For The Upcoming Trading Day Of Tuesday 27th

For the upcoming trading day on Tuesday, 27th we expect Medtronic plc to open at $81.54, and during the day (based on 14 day Average True Range), to move between $79.33 and $83.33, which gives a possible trading interval of +/-$2.00 (+/-2.46%) up or down from last closing price. If Medtronic plc takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $5.78 (7.11%) our system find the risk reward not very attractive.

Is Medtronic plc stock A Buy?

Medtronic plc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -4.054

Sell Candidate Unchanged

Predicted Opening Price for Medtronic plc of Tuesday, September 27, 2022

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price September 27, 2022 Current price
$81.54 $81.33 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 83.44 2.59 %
82.71 1.70 %
82.26 1.15 %
Current price: 81.33
Support 80.81 -0.64 %
80.36 -1.20 %
79.63 -2.09 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 90.62 11.42 %
90.25 10.97 %
87.11 7.11 %
Current price 81.33
Support 0 .
0 .
0 .

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About Medtronic plc

Medtronic plc Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. It also provides ... MDT Profile

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