McKesson Corporation Stock Forecast
McKesson Corporation stock price ended at $528.86 on Friday, after losing 0.266%.
(Updated on May 03, 2024)
The McKesson Corporation stock price fell by -0.266% on the last day (Friday, 3rd May 2024) from $530.27 to $528.86. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.83% from a day low at $520.49 to a day high of $530.00. The price has risen in 6 of the last 10 days and is up by 0.77% over the past 2 weeks. Volume has increased on the last day by 202 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 814 thousand shares were bought and sold for approximately $430.56 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.63% during the next 3 months and, with a 90% probability hold a price between $550.58 and $576.38 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MCK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The McKesson Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $535.25 and $532.04. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -2.66%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for McKesson Corporation stock
McKesson Corporation finds support from accumulated volume at $516.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $9.51 between high and low, or 1.83%. For the last week the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect McKesson Corporation to open at $526.45, and during the day (based on 14 day Average True Range), to move between $519.62 and $538.10, which gives a possible trading interval of +/-$9.24 (+/-1.75%) up or down from last closing price. If McKesson Corporation takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $531.10 (0.42%) than the support at $516.98 (2.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
McKesson Corporation will release earnings AMC on Tuesday, May 07, 2024.The consensus among the analysts for the expected earnings (EPS) is $6.34. We will update the financials statements for McKesson Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.46% in the first trading day after earnings release.
Is McKesson Corporation stock A Buy?
The McKesson Corporation stock holds several negative signals and despite the positive trend, we believe McKesson Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.783 Sell Candidate Unchanged
Predicted Opening Price for McKesson Corporation of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$526.45 ( 0.456%) | $528.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 535.96 | 1.34 % | |
R2 | 532.33 | 0.656 % | ||
R1 | 530.08 | 0.231 % | ||
Current price: | 528.86 | |||
Support | S1 | 522.82 | -1.14 % | |
S2 | 520.57 | -1.57 % | ||
S3 | 516.94 | -2.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 536.09 | 1.37 % | |
R2 | 534.18 | 1.01 % | ||
R1 | 531.10 | 0.424 % | ||
Current price | 528.86 | |||
Support | S1 | 516.98 | -2.25% | |
S2 | 501.35 | -5.20% | ||
S3 | 494.23 | -6.55% |
MCK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 24, 2024 | Jun 03, 2024 | Jul 01, 2024 | $0.620 | 0.117% |
2 | Apr 24, 2024 | May 31, 2024 | Jul 01, 2024 | $0.620 | 0.117% |
3 | Feb 01, 2024 | Mar 01, 2024 | Apr 01, 2024 | $0.620 | 0.116% |
4 | Feb 01, 2024 | Feb 29, 2024 | Apr 01, 2024 | $0.620 | 0.116% |
5 | Oct 26, 2023 | Nov 30, 2023 | Jan 02, 2024 | $0.620 | 0.131% |
FAQ
Click here for our free guide on how to buy McKesson Corporation Stock.