(CAH) Pivots Trading Plans and Risk Controls

October 29, 2024, 12:20 pm ET, BY Harold S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CAH

• Buy CAH near 106.87 target 114.3 stop loss @ 106.56 Details

The technical summary data tells us to buy CAH near 106.87 with an upside target of 114.3. This data also tells us to set a stop loss @ 106.56 to protect against excessive loss in case the stock begins to move against the trade. 106.87 is the first level of support below 111.04 , and by rule, any test of support is a buy signal. In this case, support 106.87 is being tested, a buy signal would exist.

• Short CAH slightly under 114.3, target 106.87, stop loss @ 114.63 Details

The technical summary data is suggesting a short of CAH as it gets near 114.3 with a downside target of 106.87. We should have a stop loss in place at 114.63though. 114.3 is the first level of resistance above 111.04, and by rule, any test of resistance is a short signal. In this case, if resistance 114.3 is being tested, a short signal would exist.

Swing Trading Plans for CAH

• Buy CAH slightly over 111.95, target 114.3, Stop Loss @ 111.63 Details

If 111.95 begins to break higher, the technical summary data tells us to buy CAH just slightly over 111.95, with an upside target of 114.3. The data also tells us to set a stop loss @ 111.63 in case the stock turns against the trade. 111.95 is the first level of resistance above 111.04, and by rule, any break above resistance is a buy signal. In this case, 111.95, 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 111.95, target 110.53, Stop Loss @ 112.27. Details

The technical summary data is suggesting a short of CAH if it tests 111.95 with a downside target of 110.53. We should have a stop loss in place at 112.27 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, 111.95, 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 111.95, target 114.3, Stop Loss @ 111.69 Details

If 111.95 begins to break higher, the technical summary data tells us to buy CAH just slightly over 111.95, with an upside target of 114.3. The data also tells us to set a stop loss @ 111.69 in case the stock turns against the trade. 111.95 is the first level of resistance above 111.04, and by rule, any break above resistance is a buy signal. In this case, 111.95, 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 111.95, target 111.04, Stop Loss @ 112.21. Details

The technical summary data is suggesting a short of CAH if it tests 111.95 with a downside target of 111.04. We should have a stop loss in place at 112.21 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, 111.95, 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 October 29:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Neutral
P1	0	0	99.26
P2	110.12	110.53	106.87
P3	111.04	111.95	114.3

AI Generated Signals for CAH

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

This Cardinal Health Inc. (NYSE: CAH) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CAH change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CAH is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for CAH too.  All of these are offered below the Summary Table.