MDT 0.00%↑ was on a breakout watching heading into it's earnings release on Feb 18th. The move failed and the stock sold off, but what’s occurred since is worth paying attention to in my view.
It’s recovered the full move and broke through, in spite of the recent turbulence we’ve seen in the broader equity markets the past couple of weeks.
Zooming out, there’s a nice tradable base and an important moving average to manage risk off of, setting up an interesting long idea. I started a position that will be tightly managed against that level given the recent volatility, and risk reward from here is very strong.
If the market finds sounder footing, I may also explore some put spread sales for income, given the established base below. Implied vol for MDT 0.00%↑ isn’t particularly high at this point.