CFD Trading – Buy Medtronic (MDT.NYS) at $96.75. Stop at $94.30 and target at $110.50

Medtronic PLC Stock Code MDT.NYS

Outlook
Price broke above the cloud on 17 July 2020 and we may see a test of the previous high following a change of trend. Price has been a consolidation since end April 2020, moving in a sideways range but managed to stay above the cloud during the consolidation period. Conversion and Base lines had a bullish crossover, hinging of a change in trend to bullish. Lagging Span is above price of 26 days ago and is above the cloud, confirming the bullish trend MACD is bullish and rising, hinting of a bullish trend ahead. Both of MACD lines are above the zero line as well. Going by the Ichimoku E price projection, with the rally from $87.68 to $94.82  we have a price target of $101.96, which is close to the high of $102.55 achieved on the 8 June 2020. A longer term target could be the previous price high of $110.31.

Strategy
$96.75                Buy
$110.50              Price Target
$94.30                Risk Management Stop
3 weeks Trade Duration

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