Technical Analysis: Medtronic (MDT) Downgrade Alert

Medtronic (MDT) Downgrade Alert, Watch for 9.3% Technical Downtrend Continuation I'm Maribel Aber for SmarTrend News. Medtronic (NYSE:MDT) downgraded to Neutral from Overweight, target lowered to $42 from $44, at JP Morgan. The stock closed Friday at $37.81 on volume of 4,248,400 shares, below average daily volume of 6,115,242. Medtronic is currently below its 200-day moving average of $41.60 and should find support at its 50-day moving average of $37.59. SmarTrend is bearish on shares of MDT and our subscribers received a Downtrend alert on May 06, 2010 at $41.70, which has returned 9.3% to date. I'm Maribel Aber for SmarTrend News. For more news and market analysis, subscribe to our youtube channel, trade the trend and visit our website trade the trend dot com for more headlines.