Based on the provided data and current market conditions, here's the analysis for MDT's price prediction for the next trading week:
Technical Analysis
Price Levels Analysis
Fundamental Catalysts
Price Target for Next Week Based on technical indicators and upcoming earnings:
Bullish scenario (60% probability): $94.50-$95.50
Neutral scenario (30% probability): $92.00-$94.00
Bearish scenario (10% probability): $90.00-$91.50
Trading Recommendation SELL with target price of $94.50. Current price levels show signs of being overbought ahead of earnings, and institutional selling activity suggests potential profit-taking. Consider taking profits if holding long positions.
The price of MDT is predicted to go up 2.23%, based on the high correlation periods with BBSI. The similarity of these two price pattern on the periods is 98.67%.
MDT
BBSI
Medtronic has historically held roughly 50% share in its core heart devices. It's also the market leader in spinal products, insulin pumps, and neuromodulators for chronic pain.
Medtronic's pipeline contains treatments for atrial fibrillation, mitral valve disease, and renal denervation for hypertension. If these new therapies prove effective, Medtronic could dominate three more potentially large markets.
Medtronic often finds novel ways to apply familiar technologies, like using the implantable electronic stimulation in pacemakers to address fecal incontinence and chronic pain.
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$106 → $98
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