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MDT Stock Tickeron detected bearish Stock Pattern: Cup-and-Handle Inverse MDT on June 25, 2024, netting in a 4.99% gain over 2 weeks

A.I.dvisor
at Tickeron.com
07/10/24
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+4.99% Gain from a Successful pattern Cup-and-Handle Inverse
MDT - Medtronic plc
Tickeron
Ticker: MDT
Company: Medtronic plc
Gain from shortening: +4.99%
Confirmed: 06/25/24
Succeeded: 07/09/24
Total length: 18 days
On June 21, 2024, A.I.dvisor detected a Cup-and-Handle Inverse Pattern (Bearish) for Medtronic plc (MDT, $80.92). 4 days later, on June 25, 2024, A.I.dvisor confirmed the Bearish pattern, setting a target price of the stock. On July 09, 2024, the stock hit the target price of $76.26 – resulting in a gain for traders who shorted the stock on the pattern detection date.

MDT sees MACD Histogram just turned negative

MDT saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on October 29, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 49 instances where the indicator turned negative. In of the 49 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for MDT moved out of overbought territory on October 21, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 20 similar instances where the indicator moved out of overbought territory. In of the 20 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on October 31, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on MDT as a result. In of 91 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

MDT moved below its 50-day moving average on November 01, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where MDT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

MDT broke above its upper Bollinger Band on October 18, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for MDT entered a downward trend on October 14, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MDT advanced for three days, in of 328 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.231) is normal, around the industry mean (22.821). P/E Ratio (27.625) is within average values for comparable stocks, (83.945). Projected Growth (PEG Ratio) (1.648) is also within normal values, averaging (5.667). Dividend Yield (0.032) settles around the average of (0.018) among similar stocks. P/S Ratio (3.588) is also within normal values, averaging (42.898).

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. MDT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MDT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock worse than average.

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MDT
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General Information

a provider of medical technology services

Industry MedicalSpecialties

Profile
Fundamentals
Details
Industry
Medical Specialties
Address
Lower Hatch Street
Phone
+353 14381700
Employees
95000
Web
https://www.medtronic.com