Thursday, May 03, 2018 12:02:38 PM
Today, leading healthcare services and products company, Cardinal Health Inc (NYSE:CAH), is coming under heavy selling pressure after reporting earnings. The stock is trading lower by more than 18.0 percent to $52.73 a share. Traders and investors should note that the stock peaked out in late January when it traded as high as $75.75 a share. Since that pivot high, the stock has been steadily declining making lower highs on the charts. The next major support level for CAH stock will be around the $47.40 level. This is where the stock broke out in July 2013. Often, when a stock declines this sharply it will retest its former breakout level before really stabilizing and moving higher.
Nicholas Ssantiago
InTheMonYStocks
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