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McKesson Crosses Below its 10-day MA (MCK)

By Shiri Gupta

Today, shares of McKesson (NYSE:MCK) have crossed bearishly below their 10-day moving average of $176.29 on a volume of 600K 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, shares of McKesson have traded between a low of $148.29 and a high of $243.61 and are now at $174.19, which is 17% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.0%.

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 8.7%. We continue to monitor MCK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses McKesson

Ticker(s): MCK