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St Jude Medical (STJ) Crosses Pivot Point Resistance at $42.10

Published on Fri, 03/22/2013 - 09:41
By Adrienne Chilton

Shares of St Jude Medical (NYSE:STJ) opened today above their pivot of $41.90 and have already reached the first level of resistance at $42.10. Analysts will be watching for a cross of the next upside pivot targets of $42.38 and $42.86.

Over the past year, St Jude Medical has traded in a range of $30.25 to $44.80 and is now at $42.23, 40% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.9%.

There is potential upside of 2.9% for shares of St Jude Medical based on a current price of $42.23 and an average consensus analyst price target of $43.44. The stock should discover initial support at its 50-day moving average (MA) of $41.10 and subsequent support at its 200-day MA of $38.87.

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