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St Jude Medical (STJ) Approaches New Upside Target of $42.02

Published on Tue, 03/05/2013 - 10:44
By Adrienne Chilton

St Jude Medical (NYSE:STJ) has opened bullishly above the pivot of $40.92 today and has reached the first level of resistance at $41.56. Should the shares continue to rise, the resistance pivots of $42.02 and $43.12 will be of interest.

St Jude Medical (NYSE:STJ) has potential upside of 4.5% based on a current price of $41.56 and analysts' consensus price target of $43.44. The stock should discover initial support at its 50-day moving average (MA) of $39.60 and subsequent support at its 200-day MA of $38.64.

Over the past year, St Jude Medical has traded in a range of $30.25 to $44.80 and is now at $41.56, 37% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has remained constant.

St. Jude Medical, Inc. develops, manufactures, and distributes medical devices for the worldwide cardiovascular market. The Company serves patients and its health care customers with products and services including heart valves, cardiac rhythm management systems, specialty catheters, and other cardiovascular devices.

By Adrienne Chilton