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...
Short-term trade on MCK. The 15m chart shows a clean 5-wave decline from 160 to 142.50, with nice alternation between Wave-2 and Wave-4. A 3-wave correction back into the 50% retracement level offers a good short opportunity. Initiating a short position with an immediate target at 142.50. A move above 157.50 invalidates the setup.
One of the largest pharmaceutical drug distributors covering USA, Canada, Europe.
Showing some bullish signs after coming off a 2 year downtrend, broken out of bearish channel, established priced floor at 135 and moving average cross over.
relatively low PE ratio, beat earnings last 2 quarters with higher earnings projections moving forward according to...
-Price broke out to a new YTD High (+18.25% YTD vs. +7.06% SPX YTD)
-Support between 230.50 - 232.70
-Weekly Chart did form doji at the highs so there is a chance of a retracement to support.
Long at support upon receiving bullish confirmation.
Third Point LLC opened small new position.
Pos. Size : 625,000...
long rising trend support and horizontal resistance makes for an ascending triangle into earnings with a $21 projected move on break, options looking for $7 move by Friday, maybe sell the 220/240 strangle in May to buy the same in June
The 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...