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Shares of Cardinal Health Fall Below Previous 52-Week Low

By David Diaz

Cardinal Health (NYSE:CAH) traded at a new 52-week low today of $41.03. Approximately 145,000 shares have changed hands today, as compared to an average 30-day volume of 3.3 million shares.

Cardinal Health has overhead space with shares priced $41.22, or 34.4% below the average consensus analyst price target of $62.88. The stock should run into initial resistance at its 200-day moving average (MA) of $49.46 and subsequent resistance at its 50-day MA of $53.12.

Cardinal Health, Inc. provides complementary products and services to healthcare providers and manufacturers. The Company's services include pharmaceutical distribution, health-care product manufacturing, distribution and consulting services, drug delivery systems development, pharmaceutical packaging, automated dispensing systems manufacturing, and retail pharmacy franchising.

In the past 52 weeks, Cardinal Health share prices have been bracketed by a current low of $41.03 and a high of $60.69 and are now at $41.22. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Cardinal Health on February 27th, 2020 by issuing a Downtrend alert when the shares were trading at $53.81. Since that call, shares of Cardinal Health have fallen 19.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows Cardinal Health

Ticker(s): CAH