McKesson Corporation Stock Forecast
Green day on Wednesday for McKesson Corporation stock after gaining 0.591%
(Updated on Mar 27, 2024)
The McKesson Corporation stock price gained 0.591% on the last trading day (Wednesday, 27th Mar 2024), rising from $536.09 to $539.26. During the last trading day the stock fluctuated 1.48% from a day low at $532.11 to a day high of $539.98. The price has risen in 6 of the last 10 days and is up by 3.66% over the past 2 weeks. Volume fell on the last day by -239 thousand shares and in total, 300 thousand shares were bought and sold for approximately $161.66 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow and strong 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 14.31% during the next 3 months and, with a 90% probability hold a price between $607.70 and $635.31 at the end of this 3-month period.
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MCK Signals & Forecast
The McKesson Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $534.25 and $520.97. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 3.66%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for McKesson Corporation stock
McKesson Corporation finds support from accumulated volume at $534.18 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 $7.87 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.19%.
Our recommended stop-loss: $514.63 (-4.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (MCK) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect McKesson Corporation to open at $537.12, and during the day (based on 14 day Average True Range), to move between $531.36 and $547.16, which gives a possible trading interval of +/-$7.90 (+/-1.46%) up or down from last closing price. If McKesson Corporation takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $534.18, some $5.08 (0.94%) from the current price of $539.26, our system finds the risk reward attractive.
Is McKesson Corporation stock A Buy?
McKesson Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.804 Strong Buy Candidate Unchanged
Predicted Opening Price for McKesson Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$537.12 ( 0.397%) | $539.26 |
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 | 544.99 | 1.06 % | |
R2 | 541.98 | 0.504 % | ||
R1 | 540.12 | 0.160 % | ||
Current price: | 539.26 | |||
Support | S1 | 534.11 | -0.95 % | |
S2 | 532.25 | -1.30 % | ||
S3 | 529.25 | -1.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 539.26 | |||
Support | S1 | 534.18 | -0.94% | |
S2 | 516.98 | -4.13% | ||
S3 | 494.23 | -8.35% |
MCK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | Mar 01, 2024 | Apr 01, 2024 | $0.620 | 0.115% |
2 | Feb 01, 2024 | Feb 29, 2024 | Apr 01, 2024 | $0.620 | 0.115% |
3 | Oct 26, 2023 | Nov 30, 2023 | Jan 02, 2024 | $0.620 | 0.131% |
4 | Jul 24, 2023 | Aug 31, 2023 | Oct 02, 2023 | $0.620 | 0.142% |
5 | Apr 27, 2023 | May 31, 2023 | Jul 03, 2023 | $0.540 | 0.128% |
FAQ
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