The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 7
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Channeling Stock - rising channel and falling channel.
Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
channeling stock,stock channeling,rising channel,falling channel,Price Channel

Cardinal Health, Inc. (CAH)

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Summary:
Weekly :Overbought sectorTrend resistance at 58.91
Daily :Williams' Percentage Range is strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band20 Day Moving Average has crossed above the 50 Day Moving AverageThe 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 2.38 points, or 4.19%, and closed at 59.20 on Friday, July 23, 2021. Weekly volume was 34% above average.

CAH is a member of Health Care Sector. Health Care 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 uptrend had started on March 23, 2020 at 39.05 and reached 62.96 on March 30, 2021. CAH gained -23.91 points, or -61.23%, in 53 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 53.68 and resistance is at 64.33. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See CAH medium-term trend chart]
A medium-term downtrend had started on March 30, 2021 at 62.96 and reached 54.13 on May 6, 2021. CAH lost 8.83 points, or 14.02%, in 5 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (58.91). 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 medium-term trend.

Weekly Technical Indicators: [See CAH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 14, 2021. This is an indication that the medium-term trend is down. 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 July 19, 2021 at 55.50 and reached 59.87 on July 20, 2021. CAH gained -4.37 points, or -7.87%, in 1 days. The price is now at the 15.33% retracement level.

Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. 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 Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 5.2% on Friday. It is 55.28% 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 59.54
Williams' Percentage Range (W%R) 9.60
Strong Overbought
Lane's Stochastic (%D-Slow) 62.03
Greed/Fear Indicator (GFI) 70.65
Moving Average Converg./Diverg. (MACD) 0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.54
Williams' Percentage Range (W%R) 31.00
Lane's Stochastic (%D-Slow) 42.00
Greed/Fear Indicator (GFI) 53.28
Moving Average Converg./Diverg. (MACD) 1.03
Trading Signals
Description Value Chart
Yearly Trendline Resistance 64.33
Price 59.20
Upper Bollinger Band 59.11
Quarterly Trendline Resistance 58.91
Daily Stochastic Crossing 58.63
Weekly Stochastic Crossing 57.60
20 Day Moving Average 57.42
50 Day Moving Average 57.16
Lower Bollinger Band 56.02
Parabolic System 55.70
Quarterly Trendline Support 55.61
Yearly Trendline Support 53.68
Sector and Industry
Description Name Rank
Sector Health Care 11
Industry Health Care Distributors 96
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 55.50
Low Date 07/19/2021
High 59.87
High Date 07/20/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 55.50
Low Date 07/19/2021
High 59.87
High Date 07/20/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 54.13
Low Date 05/06/2021
High 60.38
High Date 06/11/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 58.91
Support 55.61
High 62.96
High Date 03/30/2021
Low 54.13
Low Date 05/06/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 64.33
Support 53.68
Low 39.05
Low Date 03/23/2020
High 62.96
High Date 03/30/2021
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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