Medical Device Stocks Getting A Bounce

It seems like large-cap growth stocks have started to rebound a little lately, albeit from depressed levels. JNJ is doing better, AMGN has broken above its recent downtrend, and today MDT looks like it is breaking out.

MDT has gotten very cheap. This company has consistent, high quality earnings, but no one is willing to pay any sort of premium for those earnings lately. Today, the stock is spiking above its overhead 50-day on above-average volume. This could be the spark the stock needed to embark on a new uptrend.

I see that the whole medical device group of stocks are up today, but MDT is the one that stands out to me.

long AMGN, JNJ, MDT