Cardinal Health, Inc.
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|It was the negative week for the Cardinal Health, Inc. (CAH). During the week, the CAH dropped -0.74 points, or -1.10%, and closed at 66.72 on Friday, February 09, 2018. Weekly volume was 68% above average. |
CAH is a member of Services Sector. Services is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See CAH long-term trend chart]
A long-term downtrend had started on April 27, 2015 at 91.91 and reached 54.66 on November 20, 2017. CAH lost 37.25 points, or 40.53%, in 134 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 52.27 and resistance is at 80.58. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See CAH medium-term trend chart]
A medium-term downtrend had started on March 14, 2017 at 84.88 and reached 54.66 on November 20, 2017. CAH lost 30.22 points, or 35.60%, in 35 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 48.29 and resistance is at 70.67. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See CAH weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 15, 2017. The distance between MACD and the signal line is relatively high, but getting smaller. 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 January 29, 2018 at 75.75 and reached 62.40 on February 6, 2018. CAH lost 13.35 points, or 17.62%, in 8 days. The price is now at the 32.36% retracement level.
Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since January 30, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.