The Greedy Trader Weekly Analysis
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Cardinal Health, Inc.
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Summary:
Weekly :Oversold industryLane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldStochastic has raised above the signal lineTrend support at 47.96
Daily :The price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was a second consecutive positive week for the Cardinal Health, Inc. (CAH). During the week, the CAH gained 0.98 points, or 1.99%, and closed at 50.30 on Friday, August 03, 2018. Weekly volume was 68% above average.

CAH 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 CAH long-term trend chart]
A long-term downtrend had started on April 27, 2015 at 91.91 and reached 48.14 on July 19, 2018. CAH lost 43.77 points, or 47.62%, in 168 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend support (47.96) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.

Medium-term trend: [See CAH medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 75.75 and reached 48.14 on July 19, 2018. CAH lost 27.61 points, or 36.45%, in 24 weeks. The price is now at the 7.82% retracement level.

Weekly Technical Indicators: [See CAH 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. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 29, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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, 2018 at 48.14 and reached 50.99 on August 3, 2018. CAH gained -2.85 points, or -5.92%, in 15 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since July 20, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.37%) is close to one year low (4.70%). It is 70.91% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.15
Williams' Percentage Range (W%R) 46.70
Lane's Stochastic (%D-Slow) 70.66
Greed/Fear Indicator (GFI) 56.37
Moving Average Converg./Diverg. (MACD) -0.72
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.49
Williams' Percentage Range (W%R) 92.60
Strong Oversold
Lane's Stochastic (%D-Slow) 19.75
Oversold
Greed/Fear Indicator (GFI) 24.31
Moving Average Converg./Diverg. (MACD) -3.75
Trading Signals
Description Value Chart
50 Day Moving Average 51.45
Upper Bollinger Band 51.22
Price 50.30
Daily Stochastic Crossing 50.28
20 Day Moving Average 49.81
Weekly Stochastic Crossing 49.69
Lower Bollinger Band 49.01
Parabolic System 48.32
Yearly Trendline Support 47.96
Sector and Industry
Description Name Rank
Sector Services 7
Industry Drugs Wholesale 4
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 48.14
Low Date 07/19/2018
High 50.99
High Date 08/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 55.93
High Date 05/10/2018
Low 48.14
Low Date 07/19/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 75.75
High Date 01/29/2018
Low 48.14
Low Date 07/19/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 84.88
High Date 03/14/2017
Low 48.14
Low Date 07/19/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Support
Resistance 78.50
Support 47.96
High 91.91
High Date 04/27/2015
Low 48.14
Low Date 07/19/2018
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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