Medtronic, quarterly below expectations. Title slips

Medtronic quarterly below expectations Title slips

(Finance) – In sharp decline Medtronicwhich shows a -5.72%.

The medical equipment maker reported a 3.3% annual decline in revenues in the second quarter to $7.59 billion, below the $7.70 billion estimated by analysts.

The one-week trend of Medtronic is more sluggish than the trend ofS&P 100. Such decline could trigger opportunities for the market to sell the stock.

The medium-term picture of Medtronic reiterates the negative trend of the curve. In the short term, however, we see the possibility of a timid bullish impulse that meets the first resistance area at USD 78.37. First support spotted at 76.69. The presence of any positive cues favor an upward movement with a target of 80.05.