Bearish Moving Average Cross by McKesson (MCK)
Today, shares of McKesson (NYSE:MCK) have crossed bearishly below their 10-day moving average of $180.70 on a volume of 267K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, McKesson share prices have been bracketed by a low of $148.29 and a high of $243.61 and are now at $178.65, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.7%.
SmarTrend recommended that subscribers consider buying shares of McKesson on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $163.67. Since that recommendation, shares of McKesson have risen 12.4%. We continue to monitor MCK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses McKesson