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SmarTrend Watching for Potential Pullback in Shares of Cardinal Health After 2.21% Gain

By Amy Schwartz

Cardinal Health (NYSE:CAH) traded in a range yesterday that spanned from a low of $49.85 to a high of $51.38. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $50.73 on volume of 1.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 25.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Cardinal Health share prices have moved between a 52-week high of $78.78 and a 52-week low of $48.28 and are now trading 6% above that low price at $51.37 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.1%.

Keywords: rebounders Cardinal Health

Ticker(s): CAH