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Medtronic's Rally Doesn't Look All That Healthy

Bruce Kamich

a $90 price target when I last checked out the stock in December, and MDT rallied shortly thereafter to just shy of that level ($88) before reversing to the downside. First, this daily bar chart shows a wide trading range for the stock. The daily On-Balance-Volume line (OBV) has been moving up and down without a sustained trend, although the trend-following Moving Average Convergence Divergence oscillator (MACD) did move above the zero line early this month for a outright "Go Long" signal.