MDT breakout through 120.05. This volatility contraction pattern is my bread and butter. With markets extended i'm not looking to push trades right now. But this set up is allowing a tight risk entry.
After a positive under reaction following $MDT 's earning release, the PEAD projected a bullish outlook for the stock placing it in Drift A
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In Supply Zone
Top Line of channel
Short 114
Stop 117
Target 102; RRR 4:1
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
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...
Keeping the Stop Loss at circa -1% in order to preserve capital. All trades have an elevated degree of risk this week. The market can turn anytime. This doesn't mean that we need to stop trading.
Corridor broken out after a 3-month correction followed by a promising 3-month bull-run. Indicators are obviously not on our side, since we are playing the bounce.
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Hi friends
the daily chart of this market shows with a high probability an uptrend in the next days but at the same time it is better to be vigilant of the change of direction towards the opposite please subscribe to receive more analysis
