MCK a large cap medical supply company LONGMCK is a large cap medical supply company- it has experienced respectable earnings reports
and steady growth as medical entities including surgery centers and hospitals are busy catching
up on electric surgeries from the COVID era. It is rising ar or under the second upper VWAP
line. The dual time frame RSI indicator ( by Chris Moody) shows that every time the faster
RSI ( 1 hour) RSI drops down to the 50 level it rebounds with a corresponding price move up.
These episodes are shown as thin black vertical lines. One of them is at present. The
forecasting algorithm of Lux Algo predicts a further rise to the level of 575 in the next six
weeks. The last earnings was quite solid with the next earnings in 4 weeks.
I will take a long trade here. I will add to the position for any dips to or below the
running EMA 9 but not reaching the EMA100.
I will take a partial profit at 560 and cut the position down to 25% the day before earnings for
purposes of good risk management. If price crosses under the running EMA100 I will
close the trade and collect the unrealized profit.
MCK
MCK DAILY - Breakout on EarningsToday a gap up on positive earnings and revenue, Today an ascending triple top breakout on the point & figure.
This is a health care stock (timely sector) with superb financials.
This is not financial advice, but if I were to load into this stock, I would:
a) look for a pullback to 381.43 (potential VPOC support) for potential entry
b) Look for a further pullback to 376.19 (Gap fill) for potential entry
c) In the event this is a runaway gap, I would look for a breakout above 401.78 (52 week high), where there should be free sailing ahead.
d) Point & figure target is currently 459 (long position only).
2nd BEST SHORT in the entire Market right Now. MCK SHORT @ $359This trade I have been in for a while but thought I would post it here as its a similar setup to the SQM SHORT I posted last week. That SQM SHORT I labeled as "BEST SHORT Opportunity in the Market". Well this one is the 2nd Best in my opinion. Simply because it has been a little stronger stock and in a better sector (Healthcare) than SQM.
Having said that this stock is up HUGE and tagged MAJOR Resistance at $374 level. It also is very over bought and was making NEW ATH in the face of a falling market. As people scramble to protect their profits this one will crater to EMA 39 on Monthly Chart which lies at $243 level. Target Price for this is $244.93.
Entry was $359.06. Stop Loss = Confirmation CLOSE > $379.70. Target = $244.93. That is a 5.5:1 Reward:Risk ratio!!. As mentioned before this trade setup historically has a >85% Probability of working out EXACTLY as shown here.
Recently this trade broke down from a Rising Bearish Wedge and is now well into profit.
8/31/22 MCKMcKesson Corporation ( NYSE:MCK )
Sector: Distribution Services (Medical Distributors)
Market Capitalization: $52.319B
Current Price: $367.00
Breakout price: $369.40
Buy Zone (Top/Bottom Range): $355.55-$334.35
Price Target: $403.40-$407.60
Estimated Duration to Target: 37-40d
Contract of Interest: $MCK 10/21/22 370c
Trade price as of publish date: $13.90/contract
MCK Breakout TradeMcKesson is breaking out from a textbook volatility compression pattern. After a strong run higher in Q1, shares have formed a base with pullbacks shallowing from 12% to around 6% - a sign that sellers have been exhausted and supply is no longer coming to market. This will allow the stock to accelerate freely as demand increases for this stock.
Fundamentals look decent with steady earnings and sales growth. Additionally, the medical sector is showing strength in an otherwise weak market, and McKesson is a strong name to own in order to play that trend.
MCK broke out Monday on good volume above its resistance level. Traders can buy the stock here with a 7% stop to see if this move has legs.
MCK, Triangle Descending (bullish) I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 73%
TARGET (EXIT) PRICE = 153.70 USD
BREAKOUT (ENTRY) PRICE = 150.08 USD
DISTANCE TO TARGET PRICE = 0.31%
EMERGED ON = Oct 02, 08:00 AM (EDT)
CONFIRMED ON = Oct 06, 09:32 AM (EDT)
WITH CONFIDENCE LEVEL = 79%
The Descending Triangle pattern is formed when the price of a security establishes a support level (1, 3, 5) and bounces off that level to a declining resistance level, creating a down-sloping top line (2, 4). The breakout can either be up or down, depending if the resistance or highest support level is broken first.
This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control.
Trade idea
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout price level. To identify an exit, compute the target price by adding the pattern height from breakout point. For upward breakouts the level is the highest high within the triangle (2). Pattern height is the difference between the level of the bottom horizontal line and the highest high.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
MCK Hotel Stock priced how it was 4 years ago - Awaiting AR ?This stock has decent fundamentals with a discounted cash flow valuation at around 70% undervalued at its current price of $1.77 at this time of writing. This company owns hotels all around the world and their market cap is above EV, their Book Value per Share in 2019 is at 6.78 and I suggest you find out the other fundamentals by yourself. Anyways, my opinion is that the market has priced in the Covid19 effects on this stock since this company is obviously extremely exposed to the effects of covid19 (lockdowns, border closed, etc...) since they rely heavily on tourism. However the company's latest annual report was for end of December 2019, and they do not seem to issue interim reports. Therefore we do not understand how much covid19 has actually impacted this company's financials just yet, so... Could this be a golden opportunity to keep an eye out for until their next report is released? What if covid19 has not effected their financial's as bad as the market has decided ? Their price at $1.77 is the price it was 4 years ago. Thats all for now from me. Food for thought!
MCK - 7.88% Potential Profit - Bullish PennantUptrend Support with a bullish pennant forming about to breakout.
Target price set at March's high.
- 5-month uptrend
- RSI and STOCH well above 50
- MACD well above Signal
Suggested Entry $159.35
Suggested Stop Loss $155.97
Target price $171.72
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
MCK - DAILY CHARTHi, today we are going to talk about McKesson Corporation and its current landscape.
The opioid crisis has been plaguing the U.S at the most for nearly two years now. With scary numbers like the record of 47,600* overdose deaths caused by opioids in 2017 but the number seems to start slowdown since 2018 were the war against opioids gained some traction.
In the justice field, some companies have already faced some sort of rebuke for involvement and even a bit of responsibility for the opioid crisis. For example
*Jun 2019, Insys Therapeutics Inc. had to file for bankruptcy after being convicted for conspiring to bribe doctors to increase opioid sales, ending up in a deal with the federal government of $225 million.
* Aug 2019, Johnson & Johnson was obligated to pay $572 Million, as Oklahoma ruled that the company intentionally played down the dangers and oversold the benefits of opioids.
* Oct 2019, Johnson & Johnson was once more condemned by two counties of Ohio to pay $20.4 million, with the accusation of having helped the opioid crisis to spread.
Now, the drug distributor McKesson Corporation, is under investigation by the Federal Prosecutors in Brooklyn, into whether the company intentionally permitted that flood of opioids on the community. For now the U.S. Attorney’s Office in the Eastern District of New York it's just issuing subpoenas, but if they case sticks we might see what the murders of Julius Caesar saw, a pile of fire and anger from the people, so big that like Caesar butchers that were cast out of the city, the companies involved on this process can be drowned in liabilities and fines with the risk to be so badly damaged that may have the same fate of Insys Therapeutics Inc. The war against opioids it's just poised to grow up as every justice department across the country and every candidate that it's next to run on elections its eager to hang this trophy on the wall.
*Source: Centers for Disease Control and Prevention (CDC)
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MCK - Earnings Miss, Channel IntactMCK had a poor earnings report on October 30th but despite the falling price it still managed to hold the ascending channel. The stock price is right at the gap resistance level but with the stock trying to escape an oversold condition it looks to have a lot more room to rise.
I would be aiming for the resistance line of the ascending channel but $147.20 is the 61.8% Fibonacci Extension level which would be a good level to look for a pause in the rally.
$MCK - Inverse Head & Shoulder Setup with daily TD 9 I'm very bullish on $MCK and their 2020 plan. The drug distribution company is selling off due to FDA issuing warnings to all distribution companies for shipping "illegitimate" opioid products. I encourage you all to look at the software side of $MCK's business and the McKesson 2020 plan.
As for the charts, Daily TD 9 from Tone Vay's TD indicator + an inverse head and should forming.
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P.S: America Will Never Be a Socialist Country.
Long Mckesson CorpThe Healthcare Providers industry is one of the top performing industries in the strongest Sector in the S&P500, Healthcare. McKesson Corp is in a clear uptrend and has been gaining momentum as the relative performance chart indicates it has been ourperfoming the S&P more and more.
The recent Bollinger Squeeze on the Weekly chart suggests there could be a breakout to new highs. Any break of the uptrend should be an exit signal as the stock may start correcting.