CAH Technical Analysis - CARDINAL HEALTH INC

Technical Rating and Analysis

We assign a technical rating of 5 out of 10 to CAH. CAH was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.

The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.

Looking at the yearly performance, CAH did better than 71% of all other stocks.

CAH is one of the better performing stocks in the Health Care Providers & Services industry, it outperforms 74% of 101 stocks in the same industry.

CAH is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CAH is lagging the market slightly.

CAH has an average volume of 2158420 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month CAH has a been trading in a tight range between 145.96 and 153.89.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CARDINAL HEALTH INC / CAH Weekly stock chart

CARDINAL HEALTH INC / CAH Daily stock chart

Setup Rating and Analysis

Although the technical rating is only medium, CAH does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 152.63. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 150.89, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

136.84

169.69

When analyzing the support we can see 2 important areas.

A support zone ranging from 146.03 to 150.89. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @138.22 from a trend line in the daily time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 152.63 to 154.84. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 167.19 to 168.01. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for CAH is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for CAH is neutral.
ChartMill Relative Strength	71.68	POSITIVE	CAH has a high relative strength, it outperformed 71.68% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of CAH is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of CAH is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of CAH is above the rising SMA(200).
Relative Strength Index/RSI (14)	52.03	NEUTRAL	The RSI value for CAH is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.67	POSITIVE	The MACD value suggests CAH has a positive trend.
Stochastics (14,3)	72.6	NEUTRAL	The Stochastics value for CAH is a neutral value.
Average True Range in percent/ATR (20)	1.85	LOW VOLATILITY	The low ATR as a percentage value for CAH suggests low volalility.
Average Directional Index/ADX (14)	29.97	POSITIVE	The high ADX value value for CAH suggests a strong trend.