MEDTRONIC PLC. - Daily - Technical analysis published on 09/15/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
61%
6%
33%
My opinion
Bearish under 83.72 USD
My targets
79.93 USD (-2.44%)
76.06 USD (-7.16%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on MEDTRONIC PLC.. As long as you are under the resistance located at 83.72 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 79.93 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 76.06 USD as an objective. Crossing it would then enable sellers to target 67.16 USD. If the resistance 83.72 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, the general bearish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bearish direction is still favored, however the current short term correction should be carefully watched.
Force
0
10
0.7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
MEDTRONIC PLC. rating 81.93 USD. The price registered a decrease of -0.04% on the session with the lowest point at 81.57 USD and the highest point at 82.39 USD. The deviation from the price is +0.44% for the low point and -0.56% for the high point.81.57
82.39
81.93
Here is a more detailed summary of the historical variations registered by MEDTRONIC PLC.:
![Central Records Central Records](/medias/screeners/logo/CentralRecords.png)
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this MEDTRONIC PLC. chart shows a bearish trend. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
![Central Indicators Central Indicators](/medias/screeners/logo/CentralIndicators.png)
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
The probability of a further increase are moderate given the direction of the technical indicators.
Other results related to technical indicators were also found by the Central Indicators scanner:
![Central Indicators Central Indicators](/medias/screeners/logo/CentralIndicators.png)
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
![Central Patterns Central Patterns](/medias/screeners/logo/CentralPatterns.png)
Near resistance of channel
Type : Bearish
Timeframe : Daily
Near horizontal support
Type : Bullish
Timeframe : Daily
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
![Central Candlesticks Central Candlesticks](/medias/screeners/logo/CentralCandlesticks.png)
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 76.06 | 79.93 | 81.47 | 81.93 | 83.72 | 86.63 | 91.38 |
Change (%) | -7.16% | -2.44% | -0.56% | - | +2.18% | +5.74% | +11.53% |
Change | -5.87 | -2.00 | -0.46 | - | +1.79 | +4.70 | +9.45 |
Level | Major | Major | Major | - | Major | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 80.97 | 81.33 | 81.65 | 82.01 | 82.33 | 82.69 | 83.01 |
Camarilla | 81.77 | 81.84 | 81.90 | 81.96 | 82.02 | 82.09 | 82.15 |
Woodie | 80.94 | 81.32 | 81.62 | 82.00 | 82.30 | 82.68 | 82.98 |
Fibonacci | 81.33 | 81.59 | 81.75 | 82.01 | 82.27 | 82.43 | 82.69 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 75.48 | 77.20 | 78.58 | 80.30 | 81.68 | 83.40 | 84.78 |
Camarilla | 79.11 | 79.39 | 79.68 | 79.96 | 80.24 | 80.53 | 80.81 |
Woodie | 75.31 | 77.12 | 78.41 | 80.22 | 81.51 | 83.32 | 84.61 |
Fibonacci | 77.20 | 78.38 | 79.12 | 80.30 | 81.48 | 82.22 | 83.40 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 72.23 | 76.61 | 79.06 | 83.44 | 85.89 | 90.27 | 92.72 |
Camarilla | 79.62 | 80.25 | 80.87 | 81.50 | 82.13 | 82.75 | 83.38 |
Woodie | 71.26 | 76.13 | 78.09 | 82.96 | 84.92 | 89.79 | 91.75 |
Fibonacci | 76.61 | 79.22 | 80.83 | 83.44 | 86.05 | 87.66 | 90.27 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 47.74 | |
MACD (12,26,9): | -0.7400 | |
Directional Movement: | -2.21 | |
AROON (14): | -42.86 | |
DEMA (21): | 80.70 | |
Parabolic SAR (0,02-0,02-0,2): | 82.42 | |
Elder Ray (13): | 0.50 | |
Super Trend (3,10): | 83.98 | |
Zig ZAG (10): | 82.01 | |
VORTEX (21): | 0.9300 | |
Stochastique (14,3,5): | 64.44 | |
TEMA (21): | 80.90 | |
Williams %R (14): | -30.75 | |
Chande Momentum Oscillator (20): | -0.10 | |
Repulse (5,40,3): | 0.2900 | |
ROCnROLL: | -1 | |
TRIX (15,9): | -0.1800 | |
Courbe Coppock: | 2.31 |
MA7: | 81.08 | |
MA20: | 81.58 | |
MA50: | 84.24 | |
MA100: | 85.78 | |
MAexp7: | 81.44 | |
MAexp20: | 81.81 | |
MAexp50: | 83.32 | |
MAexp100: | 84.00 | |
Price / MA7: | +1.05% | |
Price / MA20: | +0.43% | |
Price / MA50: | -2.74% | |
Price / MA100: | -4.49% | |
Price / MAexp7: | +0.60% | |
Price / MAexp20: | +0.15% | |
Price / MAexp50: | -1.67% | |
Price / MAexp100: | -2.46% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
The last news published on MEDTRONIC PLC. at the time of the generation of this analysis was as follows:
- Medtronic receives CE Mark approval for Inceptiv™ spinal cord stimulator with closed-loop sensing to treat chronic pain
- Medtronic issues statement on the FDA Circulatory Systems Devices Advisory Panel vote for the Symplicity Spyral Renal Denervation System
- Medtronic to participate in upcoming investor conferences
- Medtronic to participate in upcoming investor conferences
- Medtronic reports first quarter fiscal 2024 financial results
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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