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Next Support Level for McKesson (MCK) is $102.27

Published on Thu, 02/21/2013 - 10:44
By Mallory Stone

Shares of McKesson (NYSE:MCK) opened today below their pivot of $103.54 and have already reached the first level of support at $102.84. Investors may be interested in a cross of the next downside pivot targets of $102.27 and $101.00.

Over the past year, McKesson has traded in a range of $80.61 to $106.90 and is now at $102.82, 28% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

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.

Potential upside of 13.6% exists for McKesson, based on a current level of $102.82 and analysts' average consensus price target of $116.80. The stock should discover initial support at its 50-day moving average (MA) of $101.23 and subsequent support at its 200-day MA of $93.00.

By Mallory Stone
mstone@fnno.com

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