Medtronic plc (MDT)

Medtronic stock forecast: buy or sell

Medtronic stock outlook

  • Medtronic stock fell -1.62% to close at $90.13 on the stock market today, after 3 consecutive sessions in negative.
  • Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide.
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Important:
The viewpoints published in this article are personal and not recommendations for you to buy or sell shares. The author of this report does not have an understanding of the particular circumstances of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are expressed for learning purposes only

Medtronic stock chart overview

Should I buy Medtronic stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is MDT stock a buy?

In the current situation of Medtronic there is not any eligible buy setup. This doesn't mean MDT will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell Medtronic stock?

When is it time to sell Medtronic stock?. Trading strategies give us the ability us to avoid impulsive decisions based on our personal moods or the noise that surrounds the market. Our trading system selects very simple strategies to guide us on when is the best time to sell our shares. Be aware that these strategies are not intended for shorting MDT stock

A guiding principle is that you should not mantain a trading operation that leads to greater losses than those expected by the time of the buy. When to sell your stock must always be ruled by the stop-loss (automatic or manual)

Is it time to sell Medtronic stock?

Currently, Medtronic stock doesn't match any of our preferred sell setups, so if you hold Medtronic shares and your operation is in profit probably is not time to sell now

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Analysts' recommendations to buy or sell Medtronic stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last 30 days we couldn't find any rating for Medtronic

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Technical analysis

SMAs overview

Moving averages are indicators for traders to detect stock momentum. A moving average is the average price of a stock over a set period of time. Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages

Supports and resistances

Market investors use support and resistance levels as a way to find price points on a chart that may act as glass ceiling, preventing the price of an asset to move up or down. Supports are levels where the price may stop as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down this level, it will probably continue declining until meeting another support level. On the other hand, a resistance level is where the price tends to find resistance as it moves up. Likewise, the price is more liable to "rebound" at this level, and if it finally breaches this level, the price will climb easily until it approaches the next resistance

The current resistances are:

  • R1: $91.00 (0.97% above)
  • R2: $91.10 (1.08% above)
  • R3: $91.47 (1.49% above)
  • The current supports are:

  • S1: $89.07 (-1.18% below)
  • S2: $87.85 (-2.53% below)
  • S3: $86.55 (-3.97% below)
  • Bollinger bands

    The so-called Bollinger bands are a widespread studio developed by John Bollinger. It is made up of 3 bands that are outlined superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    The price is trading near to the lower Bollinger band, signaling some level of oversold in recent sessions. This is not a buy point, as price can trade in these levels for many days and weeks

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. It is intended to map the current and historical weakness or strength of a stock or market based on the closing prices of a recent trading period. Oscillator indicators, such as relative strength, are designed to indicate values in the range of 0-100. The relative strength indicator is one of the best known and most widely used indicators, and it was invented by J. Welles Wilder in 1978

    When the relative strength (RSI) stays for so long below 70 and above 30, without indication of overbought and oversold, the indicator is of little use, and we are currently in one of these situations.

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    Earnings and financials

    Medtronic plc (MDT) reported quarterly earnings of $0.58 per share, considerably worsening the Market consensus estimate of $0.95 per share. This quarterly report represents an earnings surprise of -38.95%. Sales resulted of $6.0 billion compared to $6.9 billion predicted by analysts.

    In contract, the EPS for the same quarter last year was $1.54, so current EPS means a reduction of -62.34%. Revenue tanked a -26.38% on an annualized basis in the second-quarter, from $8.2B to $6.0B last quarter.

    Medtronic will host the earnings call next August. Wall Street analysts predict a per-share earnings of %s of $0.15, that is a 74.14% less than previous quarter. Financial reporting day has a more than usual risk for stock traders as the information posted can jump up or down the stock price with exceptionally low volume and not honouring your buy or stop-loss orders. Check company's website to confirm time and details on the earnings call and the earnings report.

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