McKesson Corp. (New)
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|It was a first positive week after 3 consecutive negative weeks for the McKesson Corp. (New) (MCK). During the week, the MCK gained 2.32 points, or 1.87%, and closed at 126.21 on Friday, August 03, 2018. Weekly volume was 29% above average. |
MCK is a member of Drugs Wholesale Industry. Drugs Wholesale is the fourth most oversold industry. 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 price is now at the 9.05% retracement level.
Medium-term trend: [See MCK medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 178.86 and reached 122.92 on July 27, 2018. MCK lost 55.94 points, or 31.28%, in 25 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend support line (135.01) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 16, 2018. This is an indication that the medium-term trend is down. 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 June 14, 2018 at 151.24 and reached 122.92 on July 27, 2018. MCK lost 28.32 points, or 18.73%, in 43 days. The price is now at the 11.62% retracement level.
Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.
The daily MACD line is below its signal line since June 26, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.