MDT will break out soon

Biotechs have been hit hard in the recent downturn which started in January 2016. But MDT has not moved much to the downside and has showed relative strength. It had a major resistance at $79 which it broke yesterday. Also if you see the weekly chart posted there is a squeeze which is about to trigger. I expect a big move in MDT soon with a price target of $85 and higher. The options are very liquid on this stock and the IV is very low for June calls (24%)