Seventrader (@7Trader) on getquin

1Yr·

Question to @TradingMelone and @leveragegrinding and gladly all other chart technicians!!!

I see with $MDT (+0.81%) the long-term upward trend is still intact, although it is on the verge due to the current market conditions and from the chart picture.

At around €66, there is soon a contact with the EMA200 + the 50 Fibonacci + the March 2020 low.

I already have Medtronic in my portfolio and can imagine an additional purchase.

Now to the actual question:

Do you think that this price level around €66 is an interesting height, or what does your "trained" eye say?

I look forward to serious news to learn something.

Thank you 😉🤞🏽

8 Comments

Dennis@GordonGekko83

1Yr

From a chart perspective, things look bad for Medtronic. The company is currently fighting with the Corona low. If this mark does not hold, it goes further down towards 60 euros. However, the value should have seen its low in the area around 52 euros at the latest. By the way: The annual chart has already given its sell signal clearly. Conclusion: Too hot for me! I find the company itself attractive and I am also invested.

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LoneMelone@TradingMelone

1Yr

For me, MDT is no longer Bullish since October 21. We have also never made a Weekly Trendshfit Bullish so it would never have been a buy according to what I always write. Weekly Chart: https://www.tradingview.com/x/ExLWWpxa/ Short explanation: First structural break in October 21. From here we assume a Bearishen correction at least below the 50% of the upward movement on a monthly basis.

Our Premium Entry Zone in the range 62% - 78% Retrace has given us no Bullishe reaction and no trend shift so for us no longer so really interesting. Then we break an important low which is also relevant for monthly basis. Monthly view: https://www.tradingview.com/x/5XEhKkBE/ Monthly trend shift is currently underway if we close the monthly candle below 75/72$. Then would be usually again the 62%-78% range interesting. Since I always orientate myself on volume and price action before the rise, the original accumulation zone (green box) and the order block lying in it including the point of controls (point of highest volume) is the most interesting for me. If we move there, an entry would be interesting for me after we have changed structure weekly/monthly depending on how the price action then looks. The monthly view is now based on the assumption that we break structure here. If we only sweep the Lows with a Wick, this is also a reversal scenario and we could also then already look for a Weekly Bullish Switch and dare an entry. Important always only after a structure confirmation.

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XOPYC@XOPYC

1Yr

Have they also lost their cool because of Novo Nordisk? It's like kindergarten...

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