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- 4/5/2024 -
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McKesson Corp. (New) (MCK) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a second consecutive positive week for the McKesson Corp. (New) (MCK). During the week, the MCK climbed 1.90 points, or 0.35%, and closed at 538.75 on Friday, April 5, 2024. Weekly volume was -42% below average.
 Long-term trend: [See MCK long-term trend chart]
A long-term uptrend had started on December 24, 2018 at 106.11 and reached 543.00 on April 4, 2024. MCK gained -436.89 points, or -411.73%, in 275 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (524.46). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See MCK medium-term trend chart]
A medium-term uptrend had started on March 15, 2023 at 331.75 and reached 543.00 on April 4, 2024. MCK gained -211.25 points, or -63.68%, in 55 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (491.82) 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 medium-term trend.
 Weekly Technical Indicators: [See MCK weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See MCK short-term trend chart]
A short-term uptrend had started on April 2, 2024 at 531.06 and reached 543.00 on April 4, 2024. MCK gained -11.94 points, or -2.25%, in 2 days. The price is now at the 35.59% retracement level.
 Daily Technical Indicators: [See MCK 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.
The daily MACD line is below its signal line since March 8, 2024. The distance between MACD and the signal line is low, but getting bigger.
The distance between the Bollinger Bands (3.46%) is close to one year low (3.30%). It is 55.61% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
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