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Downtrend Broken Resist.Archive
- 1/3/2025 -
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Cardinal Health, Inc. (CAH) Technical Analysis
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| Summary:
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| | It was a third consecutive positive week for the Cardinal Health, Inc. (CAH). During the week, the CAH climbed 0.20 points, or 0.17%, and closed at 119.30 on Friday, January 3, 2025. Weekly volume was -32% below average.
CAH is a member of Health Care Sector. Health Care is the second 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 126.23 on December 4, 2024. CAH gained -76.53 points, or -153.98%, in 128 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 106.07 and resistance is at 129.98. 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 126.23 on December 4, 2024. CAH gained -33.06 points, or -35.48%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (124.63) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See CAH weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since August 9, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See CAH short-term trend chart]
A short-term downtrend had started on December 4, 2024 at 126.23 and reached 114.60 on December 17, 2024. CAH lost 11.63 points, or 9.21%, in 13 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (118.59) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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