Medtronic Stock Moves Above 50-Day SMA: Should You Buy MDT?

Shares of Medtronic (MDT) have been on a rough ride so far in 2024, replicating the overall medical device sector’s bearish trend, impacted by severe margin constraints. However, growing optimism surrounding the Fed’s approach toward an imminent rate cut comes as a relief for investors. On Jul 30, a day before the fifth interest rate decision of 2024 by the Federal Reserve, the stock finally broke through its 50-day simple moving average (SMA), indicating a potential short-term bullish trend.This is signifi ...