The Greedy Trader Weekly Analysis
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- 5/17/2024 -
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Cardinal Health, Inc. (CAH) Technical Analysis

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Summary:
Weekly :Broken trend support lineBroken trend resistance lineWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :Broken trend resistance lineStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal line
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It was the negative week for the Cardinal Health, Inc. (CAH). During the week, the CAH gave back -0.45 points, or -0.45%, and closed at 99.08 on Friday, May 17, 2024. Weekly volume was -31% below average.

Long-term trend: [See CAH long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 39.05 and reached 116.04 on March 13, 2024. CAH gained -76.99 points, or -197.16%, in 207 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (57.86) 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 June 16, 2022 at 49.70 and reached 116.04 on March 13, 2024. CAH gained -66.34 points, or -133.48%, in 90 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (104.93) 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 Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 below its signal line since March 28, 2024. The distance between MACD and the signal line is near its high and getting bigger. 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 March 13, 2024 at 116.04 and reached 96.88 on May 15, 2024. CAH lost 19.16 points, or 16.51%, in 63 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (95.67) 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. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.10
Williams' Percentage Range (W%R) 75.60
Lane's Stochastic (%D-Slow) 28.45
Greed/Fear Indicator (GFI) 30.31
Moving Average Converg./Diverg. (MACD) -2.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.13
Williams' Percentage Range (W%R) 87.50
Oversold
Lane's Stochastic (%D-Slow) 13.60
Oversold
Greed/Fear Indicator (GFI) 23.34
Moving Average Converg./Diverg. (MACD) 3.14
Trading Signals
Description Value Chart
Monthly Trendline Support 115.69
Quarterly Trendline Resistance 109.26
50 Day Moving Average 106.40
Upper Bollinger Band 105.69
Quarterly Trendline Support 104.93
20 Day Moving Average 100.52
Price 99.08
Weekly Stochastic Crossing 98.39
Weekly Trendline Resistance 98.12
Daily Stochastic Crossing 97.96
Parabolic System 96.78
Lower Bollinger Band 95.99
Weekly Trendline Support 95.67
Sector and Industry
Description Name Rank
Sector Health Care 3
Industry Health Care Distributors 34
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 113.14
High Date 03/20/2024
Low 96.88
Low Date 05/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 98.12
Support 95.67
High 116.04
High Date 03/13/2024
Low 96.88
Low Date 05/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 121.46
Support 115.69
Low 85.12
Low Date 08/23/2023
High 116.04
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 109.26
Support 104.93
Low 49.70
Low Date 06/16/2022
High 116.04
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 67.58
Support 57.86
Low 39.05
Low Date 03/23/2020
High 116.04
High Date 03/13/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.