MedTech Leaders Shapes Coiled Bull Flag Setting up Breakout
Medtronic (MDT) shares of the MedTech name are coiling bullishly near recent highs and has a looming MACD bull cross momentum has shifted higher and prices closed back above the 8-day EMA Thursday. A follow-through higher should test 90 quickly with a close above that value high level likely moving towards new highs at 94 where an untested VPOC sits overhead from 2022. MDT still has the large 5750 Nov 1st $86 short puts in open interest from the opening seller last month showing confidence in being long this month at that level.