The Greedy Trader Weekly Analysis
Sign In May 13, 2022
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Cardinal Health, Inc. (CAH)

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Summary:
Weekly :Stochastic signal line moved below overbought areaPrice is near the Fibonacci 23.6% retracement level
Daily :Stochastic has raised above the signal lineLane's Stochastic and MACD bullish divergencePrice is close to the 50 Day Moving Average
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It was a first positive week for the Cardinal Health, Inc. (CAH). During the week, the CAH climbed 0.22 points, or 0.38%, and closed at 58.27 on Friday, May 6, 2022. Weekly volume was -79% 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 64.53 on April 21, 2022. CAH gained -25.48 points, or -65.25%, in 108 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See CAH medium-term trend chart]
A medium-term uptrend had started on December 1, 2021 at 45.85 and reached 64.53 on April 21, 2022. CAH gained -18.68 points, or -40.74%, in 20 weeks. The price is now at the 33.51% retracement level.

Weekly Technical Indicators: [See CAH weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since December 17, 2021. 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 4, 2022 at 60.92 and reached 54.41 on May 5, 2022. CAH lost 6.51 points, or 10.69%, in 1 days. The price is now at the 59.29% retracement level.

Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since April 22, 2022. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.41
Williams' Percentage Range (W%R) 71.70
Lane's Stochastic (%D-Slow) 36.54
Bullish
Greed/Fear Indicator (GFI) 32.07
Moving Average Converg./Diverg. (MACD) 0.67 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.57
Williams' Percentage Range (W%R) 44.80
Lane's Stochastic (%D-Slow) 77.59
Greed/Fear Indicator (GFI) 62.52
Moving Average Converg./Diverg. (MACD) 1.37
Trading Signals
Description Value Chart
Upper Bollinger Band 63.60
Weekly Stochastic Crossing 61.46
20 Day Moving Average 61.03
Parabolic System 59.05
Price 58.27
50 Day Moving Average 57.73
Daily Stochastic Crossing 57.19
Lower Bollinger Band 55.61
Sector and Industry
Description Name Rank
Sector Health Care 7
Industry Health Care Distributors 111
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 60.92
High Date 05/04/2022
Low 54.41
Low Date 05/05/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 60.92
High Date 05/04/2022
Low 54.41
Low Date 05/05/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 64.53
High Date 04/21/2022
Low 54.41
Low Date 05/05/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 45.85
Low Date 12/01/2021
High 64.53
High Date 04/21/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 39.05
Low Date 03/23/2020
High 64.53
High Date 04/21/2022
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.

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