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

By Shiri Gupta

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.

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.

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. The 200-day and 50-day moving averages have moved 0.22% lower and 0.52% higher over the past week, respectively.

Keywords: rebounders Cardinal Health

Ticker(s): CAH