Cardinal Health, Inc. (CAH)
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|It was the negative week for the Cardinal Health, Inc. (CAH). During the week, the CAH dropped -3.10 points, or -3.61%, and closed at 82.83 on Friday, May 26, 2023. It was the worst weekly loss since March 10, 2023. Weekly volume was -32% below average. |
CAH is a member of Health Care Sector. Health Care is the second most overbought 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 March 23, 2020 at 39.05 and reached 87.03 on May 17, 2023. CAH gained -47.98 points, or -122.87%, in 164 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (53.41) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.
Medium-term trend: [See CAH medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 68.56 and reached 87.03 on May 17, 2023. CAH gained -18.47 points, or -26.94%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See CAH weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since April 28, 2023. 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 downtrend had started on May 17, 2023 at 87.03 and reached 82.60 on May 26, 2023. CAH lost 4.43 points, or 5.09%, in 9 days. The price is now at the 5.19% retracement level.
Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.