Healthcare Leader Forms Bullish Flag Near Highs
Cardinal Health (CAH) shares of the healthcare leader are continuing to stay strong and now coiling in a bull flag near 125 with a likely rally looming to retest higher at 130 and the earnings day spike high up at 132.84 which is also the all time high. A close above that can see continuation into new highs as this trend keeps riding along the 55 day MA the past 6 months now. CAH still has 1000 March $130 short puts in open interest from an opening seller on 1/30. The healthcare sector is starting to see bullish action and could be a nice way to play markets if overall start to see the S&P rotate into defensive groups.