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Cardinal Health Crosses Below its 10-day MA (CAH)

By David Diaz

Today, shares of Cardinal Health (NYSE:CAH) have fallen below their 10-day MA of $76.93 on a volume of 522K shares. Swing traders may find an opportunity 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 $74.73 to $91.22 and is now at $75.94, 2% above that low. The 200-day and 50-day moving averages have moved 0.19% lower and 0.26% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Cardinal Health on April 28th, 2016 by issuing a Downtrend alert when the shares were trading at $81.02. Since that call, shares of Cardinal Health have fallen 3.6%. 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