Bullish potential detected for MDT

Jul 19

Entry conditions:
(i) higher share price for MDT along with swing up of indicators such as DMI/RSI, and
(ii) observation of market reaction around the potential support/resistance line of $83.85 from the open of 23rd April.

Depending on risk tolerance, the stop loss for the trade would be:
(i) below the rising 15 day EMA (currently $81.84), or
(ii) below the rising 50 day SMA (currently $79.33), or
(ii) below the prior support/resistance line of $78.17 (from the open of 20th May).

Jul 25

Note

UPDATE (week ending 24-Jul): Potential trade remains in 'wait and see' mode, with entry conditions not met so far...

Aug 2

Trade active

UPDATE (week ending 31-Jul): Trade activated Monday 27th July, with opportunities to take a small piece off the table after the gap-up the following day. Price action still respecting prior support/resistance line from the open of 23rd April (i.e. $83.85) at the end of the trading week, as well as the short-term moving averages.

Aug 9

Note

UPDATE (week ending 07-Aug): After testing the 150 day MA from the underside, the share price re-tested the short-term moving averages and then settled slightly above the yearly VWAP and slightly beneath the 150 day MA once again at the end of the trading week. Traders and investors may wish to consider raising protective stops to a level beneath the support level of $83.85 from the open of 23rd April (or to just beneath the rising 15 day EMA, currently $85.19, for traders who wish to be more aggressive and don't mind the possibility of being whipsawed out of the trade).

Aug 16

Note

UPDATE (week ending 14-Aug): An excellent trading week saw the stock price extend beyond all overhead moving averages that were previously acting as resistance. Traders and investors may now wish to take a small piece of their positions off the table (or utilise options to hedge positions slightly) and raise profitable stops beneath the rising 15 day EMA, which is currently at $87.84 at the end of the trading week.

Aug 22

Note

UPDATE (week ending 21-Aug): Another good trading week saw the stock price further extend upwards, tracking along the short-term moving averages and providing further opportunities to take small profits off the table or utilise options to hedge positions slightly or raise profitable stops beneath the rising 15 day EMA, which is currently $90.18 at the end of the trading week. Traders and investors should note that an earnings release is upcoming for this stock on Tuesday 1st September, for forward planning purposes.

Aug 29

Trade closed: stop reached

UPDATE (week ending 28-Aug): Profitable stops were triggered mid-week for MDT, which was quite timely considering the earnings release scheduled for early next week - congratulations on a terrific trade!