A Contrast in Charts
Prescription drug supplier McKesson (MCK) reported a slight earnings beat in its fiscal fourth quarter Monday, and the stock price is down more than 1% in afternoon trading, breaking below an uptrend line in place since the beginning of the year.McKesson (MCK) Source: StockCharts.com View Chart »
As positive as the chart has looked since the end of last year with a series of golden crossovers coinciding with the trendline, and what would become Fibonacci level breakouts, it has taken on a decidedly bearish tone. The Relative Strength Indicator and MacD are in negative divergence to price, and the Chaikin Money Flow indicator has been trending below its 21-period average, suggesting distribution ahead of the earnings report....235 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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