Medical-device giant Medtronic (NYSE:MDT) has been under selling pressure since June 26, 2017. Back then the stock traded as high as $89.72 a share before topping out. Today it's trading around $78 and looks to have a bit more downside in the near term.
Traders should watch $74.50 as the next major chart-support area, which matches up nicely with the weekly 200-period moving average. It's also important to note that this range is where Medtronic found defense in January 2017.
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