McKesson Corp. (New)
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|It was a second consecutive positive week for the McKesson Corp. (New) (MCK). During the week, the MCK gained 5.40 points, or 4.31%, and closed at 130.81 on Friday, November 09, 2018. Weekly volume was -26% below average. |
MCK is a member of Services Sector. Services is the second 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 MCK long-term trend chart]
A long-term downtrend had started on January 29, 2018 at 178.86 and reached 117.19 on October 26, 2018. MCK lost 61.67 points, or 34.48%, in 38 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See MCK medium-term trend chart]
A medium-term downtrend had started on October 10, 2018 at 138.94 and reached 117.19 on October 26, 2018. MCK lost 21.75 points, or 15.65%, in 2 weeks. Price is near the Fibonacci 61.8% retracement level.
Weekly Technical Indicators: [See MCK weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 September 14, 2018. The distance between MACD and the signal line is low, but getting bigger. 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 October 26, 2018 at 117.19 and reached 135.12 on November 8, 2018. MCK gained -17.93 points, or -15.30%, in 13 days. Price is near the Fibonacci 23.6% retracement level.
Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.