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McKesson Crosses Below its 10-day MA (MCK)

By Shiri Gupta

McKesson (NYSE:MCK) shares have crossed bearishly below their 10-day moving average of $166.09 on a volume of 126K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

McKesson share prices have moved between a 52-week high of $243.61 and a 52-week low of $148.29 and are now trading 11% above that low price at $165.18 per share. The 200-day and 50-day moving averages have moved 0.71% lower and 0.68% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of McKesson on August 25th, 2016 by issuing a Downtrend alert when the shares were trading at $184.95. Since that call, shares of McKesson have fallen 9.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses McKesson

Ticker(s): MCK