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
Mcklong
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.