maschera

MDT - 7.71% Potential Profit - Corridor Breakout

Long
NYSE:MDT   MEDTRONIC PLC
MDT has desperately trying to rally to reach its pre-pandemic ATH for 6 months now.

The company has also published encouraging research study results - this might act as a catalyst and create momentum. The company also beat earnings estimates recently, creating an overall positive outlook on its future.

This Corridor Breakout with strong support confirmation hints that this might be the right time.

I'm planning to enter either at a Limit, in order to contain risk or to chase a run with a Stop order. The target exit is conservative, however, if it breaks through it, there is the potential to reach its ATH . If this happens, it means that I wouldn't take profit right away, but rather lead with a Trailing Stop Loss.

- Target Entry $103.50 (Buy Limit) or $105.00 (Buy Stop)
- Target Stop Loss $101.87
- Target Exit $112.81 (or $122.00)

About me
- P/L September +33.74% | August: +232.32% | Historical Win Ratio 70.59% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
Comment: Stop-loss can be placed at $103.04 if you would like to be conservative.
Trade closed: stop reached: -1.62% loss

Comments

Will you revisit this?
+1 Reply
maschera mdamore7
@mdamore7, not this / next week. I'm passively observing the market at the moment, waiting for a clearer direction.
Reply
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