Expert Analysis Reveals Key Entry Points!
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.
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