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McKesson (MCK) Approaches New Upside Target of $104.63

Published on Wed, 01/23/2013 - 10:40
By Adrienne Chilton

McKesson (NYSE:MCK) has opened bullishly above the pivot of $103.51 today and has reached the first level of resistance at $104.16. Investors may be interested in a cross of the next upside pivot targets of $104.63 and $105.74.

McKesson (NYSE:MCK) has potential upside of 5.6% based on a current price of $104.07 and analysts' consensus price target of $109.85. The stock should discover initial support at its 50-day moving average (MA) of $96.84 and subsequent support at its 200-day MA of $91.58.

McKesson Corporation distributes pharmaceuticals, medical-surgical supplies, and and health and beauty care products throughout North America. The Company also develops, implements, and supports software that facilitates the integration of data throughout the health enterprise. In addition, McKesson offers analytic, care management, and patient solutions for payers.

McKesson share prices have moved between a 52-week high of $104.07 and a 52-week low of $76.00 and are now trading 37% above that low price at $104.07 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

By Adrienne Chilton
achilton@fnno.com