Medtronic Offering Possible 5.71% Return Over the Next 8 Calendar Days

Medtronic's most recent trend suggests a bullish bias. One trading opportunity on Medtronic is a Bull Put Spread using a strike $59.50 short put and a strike $54.50 long put offers a potential 5.71% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $59.50 by expiration. The full premium credit of $0.27 would be kept by the premium seller. The risk of $4.73 would be incurred if the stock dropped below the $54.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Medtronic is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Medtronic is bullish.

The RSI indicator is at 70.26 level which suggests that the stock is neither overbought nor oversold at this time.

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7:02 am Medtronic announces that its U.S. pivotal trial in renal denervation for treatment-resistant hypertension, SYMPLICITY HTN-3, failed to meet its primary efficacy endpoint
Thu, 09 Jan 2014 23:28:06 GMT
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Thu, 09 Jan 2014 23:26:42 GMT
The Wall Street Journal – Medtronic said experimental medical device for the treatment of high blood pressure failed to provide a benefit compared with a placebo procedure in a large clinical study

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Thu, 09 Jan 2014 22:52:08 GMT
Motley Fool – A potential $3 billion/year therapy may not work nearly as well as hoped.

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