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Advanced TA SearchArchive
- 4/26/2024 -
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Cardinal Health, Inc. (CAH) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Cardinal Health, Inc. (CAH). During the week, the CAH dropped -4.98 points, or -4.60%, and closed at 103.21 on Friday, April 26, 2024. It was the worst weekly loss since December 15, 2023. Weekly volume was 21% above average.
CAH is a member of Health Care Sector. Health Care is the second most oversold 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 116.04 on March 13, 2024. CAH gained -76.99 points, or -197.16%, in 207 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (57.59) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 CAH medium-term trend chart]
A medium-term uptrend had started on June 16, 2022 at 49.70 and reached 116.04 on March 13, 2024. CAH gained -66.34 points, or -133.48%, in 90 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (103.18) 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 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 March 28, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See CAH short-term trend chart]
A short-term downtrend had started on March 20, 2024 at 113.14 and reached 101.23 on April 22, 2024. CAH lost 11.91 points, or 10.53%, in 33 days. The chart has formed a Broadening Descending Wedge chart pattern.
 Daily Technical Indicators: [See CAH daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 13, 2024. This is an indication that the short-term trend is down.
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