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Healthcare Supplier Showing Relative Strength Near Highs

by | Jul 24, 2024

McKesson (MCK) shares of the healthcare solutions provider are holding up strong and closed green in the Wednesday market bloodbath showing great relative buying as a defensive name. MCK also seeing a bullish MACD cross and can work back up to 600 for a quick move ahead of earnings not due until 8/7. A stronger breakout above 600 can retest the all-time highs at 612. The stock has continued to rally above the 55 day MA this year and now that level comes in at 576 so would be an ideal closing stop loss level.  Nov $520 deep ITM calls still holding 1000x in open interest from buyers on 5/13.

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