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NFTRH+; Medtronic, Another Patience Play

We are all learning all the time.  One ongoing lesson for me is to remind myself that sometimes patience is best.  Medtronic (MDT) was highlighted at the site on April 27, with targets of 84 and 87 (based on daily and weekly chart measurements).

2 days ago Medtronic reported good earnings but they sold the news apparently not liking some conservative guidance.  “Dooohhhhh!…” said I and kept on holding because the chart said it was still okay.  Today?  A new high.  I like the new, patient me… for now, anyway.  That worked well with fellow device maker (and MDT competitor) BSX as well.  There are times to be impatient and shoot first, ask questions later and there are times to be cool.

mdt

Here is the weekly chart of MDT from the April update, which was just reviewed again in this week’s report.  Pretty neat, eh?  I’d be pretty pissed if I’d let emotion shake me out.

mdt.wk

Meanwhile, we have been tracking the Healthcare sector each week in NFTRH, watching IHI (medical devices, incl. MDT & BSX) and the more broad XLV.  The former has been bullish for a long while now (we watched it break to blue sky from an Ascending Triangle) and the latter is getting there.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.

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