VantagePoint Trading Journal: Medtronic Looks To Keep Going Higher
Shares of Medtronic PLC (NYSE:MDT) hit an all-time high of $100.15 on Wednesday, and the stock looks like it's primed to break it after going ex-dividend on Thursday. Since reporting strong Q1 EPS and sales numbers on August 21, MDT is up over 10 percent.
And according to VantagePoint Software's two main indicators, a predicted moving average and predicted neural index, the stock's upward momentum looks like it'll continue.
The blue line on the chart below is a three-day predicted moving average, and the black is a simple 10-day moving average. The fact that the blue line has remained above the black tells us that the stock is still in an uptrend. This is true depsite the neural index' shift to the red at the bottom of the chart, which forecasts nearterm weakness. As long as the two moving averages do not crossover, we can expect more upside.
Shares of MDT are up $1, or 1 percent, on Monday's session.
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