McKesson Corp. (New)
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|It was the negative week for the McKesson Corp. (New) (MCK). During the week, the MCK dropped -10.28 points, or -6.46%, and closed at 148.93 on Friday, February 09, 2018. Weekly volume was 38% above average. |
MCK 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 MCK long-term trend chart]
A long-term downtrend had started on May 19, 2015 at 243.61 and reached 114.53 on October 28, 2016. MCK lost 129.08 points, or 52.99%, in 75 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (70.30) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.
Medium-term trend: [See MCK medium-term trend chart]
A medium-term uptrend had started on October 30, 2017 at 134.25 and reached 178.86 on January 29, 2018. MCK gained -44.61 points, or -33.23%, in 13 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (162.91) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MCK may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.
Weekly Technical Indicators: [See MCK 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 8, 2017. 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 downtrend had started on January 29, 2018 at 178.86 and reached 144.85 on February 9, 2018. MCK lost 34.01 points, or 19.01%, in 11 days. The price is now at the 12.00% retracement level.
Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Lane's Stochastic. Use the following link to access Relative Strength Index help.
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 near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The distance between the Bollinger Bands is 136.36% higher then one year average. It indicates the period of high 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.