The MDCO short trade hit the first target (30.00) last week for a 9.3% gain from the entry on June 13th. As expected, the stock has been consolidating around that level for the last few days and still offers a chance to book partial or full profits. T2 at 26.85 remains my final & preferred target for now but I have added a long-term uptrend line that generates off the May 2010 lows that could possibly come in as support before then if prices were to quickly move lower. If so, that would be my preferred final target vs. the horizontal support at 26.85. Updated daily chart.
MDCO First Target Hit