MDT releases earnings on 5/19. After riding a somewhat vertical monthly line since 2012, it looks to have topped out. Over the last two days it has lost the 100sma and continues to push lower. Next area of support is around the $71, currently coinciding with the 200sma. Using the 7sma as a stop (highs of 5/6), target is $71 prior to earnings.
Down-trending stock over last year that couldn't hold bounce with recent earnings beat. Recent bear-trap pattern and now breaking through 7dma and 62% Fib. retracement (from 6/12 rally to high of 60 last fall.) Using 43 as a stop, looking for a price target of 39 (72% Fib retracement that it bounced off of in the spring)