Staying with today's theme of looking at trades that find resistance at both the 61.8% Fibonacci retracement and the 50 day moving average, here's another one to look at:

MDT bounced off its 200 day moving average just last week and found resistance at the 50 dma and  61.8% Fibonacci retracement level.  I see a defined risk trade setting up here with a stop at $38.50 with a1st target of $36.30 and a 2nd target at $35.40.

 

Medtronic
Share Button