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Watch for Shares of Mckesson Corp (MCK) to Approach Support at $141.11

By David Diaz

Mckesson Corp (NYSE:MCK) has opened bearishly below the pivot of $142.34 today and has reached the first level of support at $142.20. Analysts will be watching for a cross of the next downside pivot targets of $141.11 and $139.88.

Mckesson Corp has overhead space with shares priced $143.68, or 19.8% below the average consensus analyst price target of $179.25. The stock should discover initial support at its 200-day moving average (MA) of $142.57 and subsequent support at its 50-day MA of $140.33.

Over the past year, Mckesson Corp has traded in a range of $111.90 to $172.18 and is now at $143.68, 28% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.8%.

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

Keywords: pivot alerts McKesson Corp

Ticker(s): MCK