Medtronic Plummets After Q2 Report

Medtronic plc MDT shares are trading lower by $7.50 at $73.08 in Tuesday's session. Despite a Q2 EPS beat of a penny, the Street is focusing in its revenue shortfall of $11 million and its lower guidance for FY 2017.

Following a sharply lower open, it managed a brief pop to $75.36 before continuing its move lower. It has continued to make new lows for the session, with the current one standing at $73. That low coincides with its March 1 low ($73.06).

If the decline continues, there may not be any major support until the pair of lows from February 11 ($72.13) and February 12 ($72.28).