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Cardinal Health Rises 1.83% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Cardinal Health (NYSE:CAH) traded in a range yesterday that spanned from a low of $45.30 to a high of $46.71. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $46.12 on volume of 952,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Cardinal Health. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cardinal Health in search of a potential trend change.

Over the past year, Cardinal Health has traded in a range of $41.03 to $58.31 and is now at $46.13, 12% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders Cardinal Health

Ticker(s): CAH