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SmarTrend Watching for Potential Rebound in Shares of Cardinal Health After 2.14% Loss

By Amy Schwartz

Cardinal Health (NYSE:CAH) traded in a range yesterday that spanned from a low of $52.17 to a high of $54.28. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $53.36 on volume of 2.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Cardinal Health has traded in a range of $48.14 to $75.75 and is now at $52.89, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.2%.

SmarTrend is tracking the current trend status for Cardinal Health and will alert subscribers who have CAH in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Cardinal Health

Ticker(s): CAH