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Recent 52-Week Low Surpassed in Shares of Mckesson Corp (MCK)

By Nick Russo

Mckesson Corp (NYSE:MCK) traded today at a new 52-week low of $122.68. This new low was reached on below average trading volume as 113,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.

McKesson Corporation distributes pharmaceuticals, medical-surgical supplies, and health and beauty care products throughout North America. The Company also develops, implements, and supports software that facilitates the integration of data throughout the health enterprise. In addition, McKesson offers analytic, care management, and patient solutions for payers.

Mckesson Corp has overhead space with shares priced $122.97, or 31.4% below the average consensus analyst price target of $179.25. The stock should find initial resistance at its 50-day moving average (MA) of $137.27 and further resistance at its 200-day MA of $147.36.

In the past 52 weeks, shares of Mckesson Corp have traded between the current low of $122.68 and a high of $178.86 and are now at $122.97. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Mckesson Corp on May 4th, 2018 by issuing a Downtrend alert when the shares were trading at $146.71. Since that call, shares of Mckesson Corp have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows McKesson Corp

Ticker(s): MCK