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