DTT Buzz

Medtronic, Inc. (NYSE: MDT) put in a nice technical move yesterday. After gapping down hard on Otober 15th, 2007, MDT was stuck in a sideways trend. The stock was trading in a range with support at approximately 45.00 and strong resistance at 51.00. The range bound trading resulted in the formation of an ascending triangle, seen below on the 1 year chart.

Yesterday, MDT broke 51.00 resistance which set off an alert that I set a while back in my trading software. The break took place on decent volume, and indicates the potential start of a strong upside move in the stock. The combination of the ascending triangle resistance break, and the new high into the October gap sets up for a strong bullish technical indicator.

We have already sent a trade suggestion via our Surefire system, and are highly likely to send one to our Premium Service Members today. Get in on the action by calling 866-232-9872 and requesting a membership to DaytradeTeam today!!

Regards,

Nick Fenton

p.s. - Do you have any thoughts on MDT? If yes, leave your thoughts in the comment section below!