Trading (CAH) With Integrated Risk Controls
April 18, 2024, 05:40 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CAH
- Buy CAH slightly over 104.89 target 111 stop loss @ 104.59 Details
The technical summary data tells us to buy CAH near 104.89 with an upside target of 111. This data also tells us to set a stop loss @ 104.59 to protect against excessive loss in case the stock begins to move against the trade. 104.89 is the first level of support below 106.52 , and by rule, any test of support is a buy signal. In this case, support 104.89 would be being tested, so a buy signal would exist.
- Short CAH slightly under 111, target 104.89, stop loss @ 111.32 Details
The technical summary data is suggesting a short of CAH as it gets near 111 with a downside target of 104.89. We should have a stop loss in place at 111.32though. 111 is the first level of resistance above 106.52, and by rule, any test of resistance is a short signal. In this case, if resistance 111 is being tested, so a short signal would exist.
Swing Trading Plans for CAH
- Buy CAH slightly over 106.91, target 111, Stop Loss @ 106.6 Details
If 106.91 begins to break higher, the technical summary data tells us to buy CAH just slightly over 106.91, with an upside target of 111. The data also tells us to set a stop loss @ 106.6 in case the stock turns against the trade. 106.91 is the first level of resistance above 106.52, and by rule, any break above resistance is a buy signal. In this case, 106.91, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short CAH slightly near 106.91, target 104.89, Stop Loss @ 107.22. Details
The technical summary data is suggesting a short of CAH if it tests 106.91 with a downside target of 104.89. We should have a stop loss in place at 107.22 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 106.91, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for CAH
- Buy CAH slightly over 106.91, target 107.94, Stop Loss @ 106.66 Details
If 106.91 begins to break higher, the technical summary data tells us to buy CAH just slightly over 106.91, with an upside target of 107.94. The data also tells us to set a stop loss @ 106.66 in case the stock turns against the trade. 106.91 is the first level of resistance above 106.52, and by rule, any break above resistance is a buy signal. In this case, 106.91, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short CAH slightly near 106.91, target 106.21, Stop Loss @ 107.16. Details
The technical summary data is suggesting a short of CAH if it tests 106.91 with a downside target of 106.21. We should have a stop loss in place at 107.16 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 106.91, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Cardinal Health Inc. (CAH) available here: CAH.
CAH Ratings for April 18:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Weak |
Strong |
| P1 |
0 |
0 |
104.89 |
| P2 |
106.21 |
104.51 |
111 |
| P3 |
107.94 |
106.91 |
117.27 |
AI Generated Signals for CAH
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for CAH:
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