MDT.X sees MACD Histogram crosses below signal line

MDT.X saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 29, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 15 instances where the indicator turned negative. In 11 of the 15 cases the stock moved lower in the days that followed. This puts the odds of a downward move at 73%.

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on April 28, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on MDT.X as a result. In 17 of 27 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 63%.

MDT.X moved below its 50-day moving average on April 12, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for MDT.X crossed bearishly below the 50-day moving average on April 13, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In 1 of 5 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 20%.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where MDT.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 57%.

The Aroon Indicator for MDT.X entered a downward trend on April 20, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

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