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Archive
- 4/19/2024 -
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McKesson Corp. (New) (MCK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the McKesson Corp. (New) (MCK). During the week, the MCK climbed 1.82 points, or 0.35%, and closed at 524.83 on Friday, April 19, 2024. Weekly volume was -34% below average.
 Long-term trend: [See MCK long-term trend chart]
A long-term uptrend had started on December 24, 2018 at 106.11 and reached 543.00 on April 4, 2024. MCK gained -436.89 points, or -411.73%, in 275 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (527.92). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
 Medium-term trend: [See MCK medium-term trend chart]
A medium-term uptrend had started on March 15, 2023 at 331.75 and reached 543.00 on April 4, 2024. MCK gained -211.25 points, or -63.68%, in 55 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 508.43 and resistance is at 549.00. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See MCK weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 January 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 18, 2024 at 514.88 and reached 525.83 on April 19, 2024. MCK gained -10.95 points, or -2.13%, in 1 days. The price is now at the 9.13% retracement level.
 Daily Technical Indicators: [See MCK 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 8, 2024.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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.
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