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Cardinal Health Bearish Moving Average Crossover Alert (CAH)

By Shiri Gupta

Today, shares of Cardinal Health (NYSE:CAH) have crossed bearishly below their 10-day moving average of $63.55 on a volume of 321K 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.

Over the past year, Cardinal Health has traded in a range of $54.66 to $85.52 and is now at $63.29, 16% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cardinal Health on March 20th, 2018 by issuing a Downtrend alert when the shares were trading at $67.74. Since that call, shares of Cardinal Health have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Cardinal Health

Ticker(s): CAH