The Greedy Trader Weekly Analysis
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Daily RSI Divergence:Bullish
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 9/22/2023 -
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Cardinal Health, Inc. (CAH) Technical Analysis

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Summary:
Weekly :Broken trend resistance linePrice is near the Fibonacci 23.6% retracement level
Daily :A Parabolic SAR indicator is below and near the priceThe price moved above the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was a first positive week for the Cardinal Health, Inc. (CAH). During the week, the CAH gained 1.21 points, or 1.38%, and closed at 88.96 on Friday, September 22, 2023. Weekly volume was -33% 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 95.45 on August 15, 2023. CAH gained -56.40 points, or -144.43%, in 177 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (54.88) 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 95.45 on August 15, 2023. CAH gained -26.89 points, or -39.22%, in 20 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 technical indicators are neutral.

The weekly MACD line is below its signal line since August 11, 2023. 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 August 23, 2023 at 85.12 and reached 90.44 on August 30, 2023. CAH gained -5.32 points, or -6.25%, in 7 days. The chart has formed a Symmetric Triangle chart pattern.

Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since August 28, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

A Parabolic SAR (stop and reversal) indicator (89.83) comes close to the price (88.96). It indicates that the trend is getting weaker. 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 moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.91% on Friday. It is 58.51% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.08
Williams' Percentage Range (W%R) 39.60
Lane's Stochastic (%D-Slow) 63.30
Greed/Fear Indicator (GFI) 60.94
Moving Average Converg./Diverg. (MACD) -0.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.18
Williams' Percentage Range (W%R) 37.00
Lane's Stochastic (%D-Slow) 26.41
Greed/Fear Indicator (GFI) 44.62
Moving Average Converg./Diverg. (MACD) 3.59
Trading Signals
Description Value Chart
Upper Bollinger Band 90.36
50 Day Moving Average 90.04
Parabolic System 89.83
Daily Stochastic Crossing 88.96
Price 88.96
Weekly Stochastic Crossing 88.38
20 Day Moving Average 88.38
Lower Bollinger Band 86.89
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Distributors 66
Daily Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Low 85.12
Low Date 08/23/2023
High 90.44
High Date 08/30/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 95.45
High Date 08/15/2023
Low 85.12
Low Date 08/23/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 68.56
Low Date 03/24/2023
High 95.45
High Date 08/15/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.70
Low Date 06/16/2022
High 95.45
High Date 08/15/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 66.62
Support 54.88
Low 39.05
Low Date 03/23/2020
High 95.45
High Date 08/15/2023
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.