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Downtrend Broken Resist.Archive
- 7/19/2024 -
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McKesson Corp. (New) (MCK) Technical Analysis
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| Summary:
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| | It was a first positive week for the McKesson Corp. (New) (MCK). During the week, the MCK climbed 3.47 points, or 0.60%, and closed at 580.13 on Friday, July 19, 2024. MCK was trading at average weekly trading volume.
 Long-term trend: [See MCK long-term trend chart]
A long-term uptrend had started on December 24, 2018 at 106.11 and reached 612.17 on June 25, 2024. MCK gained -506.06 points, or -476.92%, in 287 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (549.34). 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 612.17 on June 25, 2024. MCK gained -280.42 points, or -84.53%, in 66 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 552.67 and resistance is at 593.90. 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 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 May 10, 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 downtrend had started on July 17, 2024 at 587.09 and reached 577.53 on July 18, 2024. MCK lost 9.56 points, or 1.63%, in 1 days. The price is now at the 27.20% retracement level.
Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since June 26, 2024. This is an indication that the short-term trend is down.
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.
Price is close to the 50 Day Moving Average. 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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