Cardinal Health, Inc. is an American multinational health care services company, and the 14th highest revenue generating company in the United States. Headquartered in Dublin, Ohio, the company specializes in the distribution of pharmaceuticals and medical products, serving more than 100,000 locations.
Continuation of upward trend.
Cardinal Health has traded up to a Macro Supply Line which happened to align with the BAMM Target of a Bearish Crab and from there we formed MACD Bearish Divergence and got the strongest form of PPO Confirmation, as a result I now expect that we will begin a very deep retracement back down similarly to how Strongly CVS has responded to its own topping pattern...
Cardinal Health as a medical supply company does not pay attention
to stock market gyrations and is in a sector that is typically regarded as recession
proof.
The chart one hour shows it cycling from a triple bottom in mid to late MArch into
a good uptrend.
This looks to be a good investment that pays a consistent dividend swing trade
to take until the...
There are two base patterns with Volume to support the structure of the price action. With a positive earnings report at 15.66% earnings surprise, there could be a breakout to new highs with another 3rd Base pattern forming with Volume and continued upwards momentum.
**This is just a sharing of a charting idea, this is in no way supposed to be taken as...
The flag pattern and engulfing candle are both very bullish signals.
In addition the MACD histogram is rising, suggesting momentum is increasing and a MACD crossover is imminent.
OBV confirms the recent price action.
Both the short term FI (2) and long term FI (13) are recently positive showing a good entry point and confirmation of the trend.
Finally, the...
The PEAD projected a Neutral outlook for $CAH after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 37.5%.
Rejected at the gap already. If we don't break into the grey area look for this stock to continue to pullback to the lower levels.
CHART LEGEND:
white dashed lines = bull/bear takeovers
blue lines = call targets
yellow lines = put targets
red line = danger zone
orange lines = trend lines
green lines = safe zone
any other lines add will be discussed with the...
say what you will about politics, there's some interesting correlations between healthcare stocks and what U.S. President party presides. Cardinal Health ripped during the Obama years, looks like a rally underway with Biden in the oval office.
When nothing else works, healthcare does. I think companies like this are poised for a comeback. Long shares & calls at...
Cardinal health is currently sitting at a resistance level that held from 2000-2013. From 2014-2018 it traded above this resistance level, but in 2018 it dropped back below it. For the last two years, the stock has been trying to break through this level, but has been rejected roughly 19 times. Thanks to trend line support, we're coming toward a decision point...
CAH has been following the channel as depicted on the daily and has reached the bottom of the channel. This is a mean reversion play with lots of upside. RSI oversold, downward momentum has slowed down. This is ready to pop. Price target and stop loss as depicted in chart.
