Outside of retail, Medtronic (MDT) will be reporting earnings this week, but Jim Cramer expects sales to be light as he laid out his game plan for this week during Friday's Mad Money program. Let's check out the charts and indicators of MDT.
In the daily bar chart of MDT, below, we can see a possible broadening pattern since late August -- prices make higher highs and lower lows to frustrate both longs and shorts. This looks like the bell of a trumpet or some other brass musical instrument going from narrow to wide. The price action is currently above the rising 50-day moving average line and above the declining 200-day moving average line.
The On-Balance-Volume (OBV) line shows a decline from early September telling us that sellers of MDT have been more aggressive despite that prices have traded up to a new high. The Moving Average Convergence Divergence (MACD) oscillator has been moving close to the zero line, which tells us that there is not much in the way of "trend strength" being displayed.