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Archive
- 11/22/2024 -
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Cardinal Health, Inc. (CAH) Technical Analysis
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| Summary:
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| | It was a first positive week for the Cardinal Health, Inc. (CAH). During the week, the CAH gained 5.10 points, or 4.29%, and closed at 124.10 on Friday, November 22, 2024. Weekly volume was -16% below average.
CAH is a member of Health Care Sector. Health Care is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CAH long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 49.70 and reached 126.10 on November 13, 2024. CAH gained -76.40 points, or -153.72%, in 125 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 103.68 and resistance is at 127.59. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See CAH medium-term trend chart]
A medium-term uptrend had started on July 15, 2024 at 93.17 and reached 126.10 on November 13, 2024. CAH gained -32.93 points, or -35.34%, in 17 weeks. The price is now at the 6.07% retracement level.
 Weekly Technical Indicators: [See CAH weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since August 9, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See CAH short-term trend chart]
A short-term uptrend had started on September 25, 2024 at 106.54 and reached 126.10 on November 13, 2024. CAH gained -19.56 points, or -18.36%, in 49 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 107.31 and resistance is at 129.30. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since November 4, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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