- The price is currently hovering near the upper band, which suggests the stock may be experiencing some upward momentum.
- Support: Around $87, where the price found buyers recently after a pullback.
- Resistance: Immediate resistance is near $91.50, which is the high from a recent candle.
- The middle line of the Bollinger Bands appears to be a 20-period simple moving average (SMA). The price is above this line, suggesting a short-term uptrend is intact.
- The stock has rebounded from the lower band earlier in September and has been on a gradual rise, indicating buyers stepping in after the dip.
- Over the past month, MDT has shown bullish momentum, but the recent pause near the upper Bollinger Band indicates that the stock could face resistance at this level.
- The stock is currently in an uptrend, but the possibility of a short-term pullback exists if the price cannot break above the current resistance zone.
- MDT is in a short-term uptrend, as indicated by the price trading above the middle Bollinger Band and the recent rally. The next critical level to watch is the resistance around $91.50. A breakout above this could see the stock moving higher, while a failure could lead to a pullback towards the $87 support level. Monitoring the Bollinger Band for any squeeze or expansion can provide clues on future volatility.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
➀➁➂➃➄
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.