Cardinal Health Crosses Below its 10-day MA (CAH)
Cardinal Health (NYSE:CAH) crossed under its 10-day moving average of $85.62 on a volume of 2.1 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Cardinal Health share prices have moved between a 52-week high of $91.91 and a 52-week low of $74.73 and are now trading 9% above that low price at $81.35 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Cardinal Health on February 16th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.60. Since that recommendation, shares of Cardinal Health have risen 8.7%. We continue to monitor CAH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Cardinal Health