McKesson Corporation (MCK) continues to demonstrate resilience and growth potential, evident from its recent price action and robust financial performance. Here’s a detailed analysis for potential investors.
MCK has been in a steady uptrend, currently trading at $586.34. The stock has shown consistent higher highs and higher lows, reflecting strong bullish sentiment. The recent minor pullback offers an attractive entry point for long-term investors.
Relative Strength Index (RSI): At 52.26, RSI indicates a neutral stance, suggesting there’s room for upward movement without entering overbought territory.
MACD: The MACD level at 8.41 signals a bearish crossover, indicating a potential short-term correction.
Moving Averages: MCK is trading above critical moving averages (50, 100, 200), reinforcing the long-term bullish trend. The EMAs are providing strong support, particularly at $569.76 (EMA 50) and $545.95 (SMA 100).
Pivot Point (P): $587.33
Resistance Levels (R1, R2, R3): $608.88, $633.72, $680.11
Support Levels (S1, S2, S3): $562.49, $540.94, $494.55
The stock faces immediate resistance at $608.88, with support established at $562.49.
McKesson’s recent financials reveal strong cash flow from operations, robust revenue growth, and significant profitability metrics, underscoring its solid market position.
Next Earnings Report Date: August 7, 2024
EPS Estimate: $7.21
Revenue Estimate: $82.72 billion
P/E Ratio: 26.11, reflecting moderate valuation.
Net Margin: 1.33%, showcasing efficiency in operations.
Long Position
Entry Point: Above $590.00
Price Target: $613.42 (short-term), $633.72 (medium-term)
Stop Loss: $570.00 (below EMA 50)
Short Position
Entry Point: Below $560.00
Price Target: $540.00 (near support level)
Stop Loss: $580.00 (above recent pivot)
McKesson Corporation remains a robust pick in the healthcare sector, offering substantial growth potential. The technical and fundamental indicators align to suggest a bullish outlook, with strategic entry points for both long and short positions.
Price Prediction: MCK could reach $613.42 in the short term, with further potential to $633.72, assuming favorable market conditions.
MCK has been in a steady uptrend, currently trading at $586.34. The stock has shown consistent higher highs and higher lows, reflecting strong bullish sentiment. The recent minor pullback offers an attractive entry point for long-term investors.
Relative Strength Index (RSI): At 52.26, RSI indicates a neutral stance, suggesting there’s room for upward movement without entering overbought territory.
MACD: The MACD level at 8.41 signals a bearish crossover, indicating a potential short-term correction.
Moving Averages: MCK is trading above critical moving averages (50, 100, 200), reinforcing the long-term bullish trend. The EMAs are providing strong support, particularly at $569.76 (EMA 50) and $545.95 (SMA 100).
Pivot Point (P): $587.33
Resistance Levels (R1, R2, R3): $608.88, $633.72, $680.11
Support Levels (S1, S2, S3): $562.49, $540.94, $494.55
The stock faces immediate resistance at $608.88, with support established at $562.49.
McKesson’s recent financials reveal strong cash flow from operations, robust revenue growth, and significant profitability metrics, underscoring its solid market position.
Next Earnings Report Date: August 7, 2024
EPS Estimate: $7.21
Revenue Estimate: $82.72 billion
P/E Ratio: 26.11, reflecting moderate valuation.
Net Margin: 1.33%, showcasing efficiency in operations.
Long Position
Entry Point: Above $590.00
Price Target: $613.42 (short-term), $633.72 (medium-term)
Stop Loss: $570.00 (below EMA 50)
Short Position
Entry Point: Below $560.00
Price Target: $540.00 (near support level)
Stop Loss: $580.00 (above recent pivot)
McKesson Corporation remains a robust pick in the healthcare sector, offering substantial growth potential. The technical and fundamental indicators align to suggest a bullish outlook, with strategic entry points for both long and short positions.
Price Prediction: MCK could reach $613.42 in the short term, with further potential to $633.72, assuming favorable market conditions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.