In the chart below for COV (NYSE:COV) it confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume back to its strong uptrend. As always make sure to use tight money management stops to preserve your capital.

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Covidien, Ltd. engages in the development, manufacture, and sale of healthcare products for use in clinical and home settings worldwide. The company operates through four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products, and Medical Supplies. The Medical Devices segment provides endomechanical instruments, soft tissue repair products, energy devices, oximetry and monitoring products, airway and ventilation products, vascular devices, sharpsafety products, clinical care products, and other medical device products. The Imaging Solutions segment provides radiopharmaceuticals, such as radioactive isotopes and associated pharmaceutical products used for the diagnosis and treatment of disease; and contrast products, including contrast delivery systems and contrast agents. The Pharmaceutical Products segment involves in the development, manufacture, and distribution of dosage pharmaceuticals and active pharmaceutical ingredients. The Medical Supplies segment offers nursing care products, including woundcare products; medical surgical products, such as operating room supply products and related accessories, electrodes, and chart paper product lines; and original equipment manufacturer products, which include medical supplies, such as needles and syringes. The company’s customers include hospitals, surgi-centers, imaging centers, alternate site facilities, drug manufacturers, and retailers. Covidien, Ltd. was incorporated in 2000 and is based in Hamilton, Bermuda.