Cardinal Health Inc. (CAH)
Cardinal Health has broken above prior resistance at $249.38, alongside a 54-position rise over the past month in the SIA S&P 500 Index Report. The shares now rank 44 with an SIA SMAX Score of 10/10. Despite the recent improvement, the stock remains eight positions below its ranking a quarter ago.
The latest Point & Figure signal is a Double Top. Following the breakout, the next resistance levels stand at $280.84 and $303.99. On the downside, 3-box reversal support is at $234.99, followed by $217.10.
Health Services has strengthened considerably, climbing 15 positions over the past quarter to rank 3 out of 31 in the SIA Sector Report. Its Favored classification provides a positive sector backdrop, although Cardinal Health’s own quarterly ranking movement has been more subdued.
Cardinal Health has outperformed the iShares Core S&P 500 Index ETF Fund (IVV) across all three reported periods. The shares gained 13.05% monthly while the benchmark declined 1.02%. Quarterly, the stock advanced 10.69% against the fund’s 3.22% gain, while yearly returns were 58.29% and 14.78%, respectively.
Quarterly benchmark outperformance has therefore coincided with a modest decline in report ranking, while the monthly readings show improvement on both measures. The breakout adds to that recent strength, with portfolio objectives and risk exposure providing the broader investment context.
Cardinal Health distributes pharmaceuticals and specialty products, manufactures and distributes medical and laboratory products globally, and supplies home-health and direct-to-patient products and services. The company also operates nuclear pharmacies and manufacturing facilities and provides performance and data solutions.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.