Stocks put in their first positive close in over a week Wednesday. Trading volume continues to be heavy as selling pressure eases. Gains were broad across the board, with a concentration on large cap indexes. Leading stocks lagged, as did small caps. So now I’ll keep an eye out for building strength, although I don’t expect it yet. With a […]
The overall uptrend in the S&P 500 continues despite light trading volume and regular pullbacks from marginally higher highs. While this isn’t a reason to bet against the trend, it’s always worthwhile to have a few stocks written down to trade on the short side in case the market does break lower. Relative strength, or weakness, is a key component when […]
SummaryThe author believes MDT to be overbought on a technical analysis basis.
Investors should be prepared to “buy the dip” at a price range of $56-$58.
The author uses Moving Averages, Bollinger Bands, Candlestick Patterns, and the Relative Strength Index to support the analysis.