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Cardinal Health Rises 2.04% 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 $54.05 to a high of $54.92. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $54.20 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Cardinal Health share prices have been bracketed by a low of $50.79 and a high of $80.37 and are now at $54.81, 8% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cardinal Health on March 20th, 2018 by issuing a Downtrend alert when the shares were trading at $67.74. Since that call, shares of Cardinal Health have fallen 20.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Cardinal Health

Ticker(s): CAH