TUE 9/8: MCK – Got Turned Back From the 10 DMA Today – Not Good

Latest Chart Update: MCK

9:55 PM – We are currently reporting on this stock as an active holding and continue to monitor the stock closely for any technical SELL SIGNALS.

The focus always remains on price/volume action around key support levels, including the 10 DMA, 50 DMA, and any nearby trendline or ROUND-$ support.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.

MON 8/10: MCK – BUYING (1/3) @ $892.55

9:58 AM – Initiating a 1/3 position in this Medical-Distribution leader as shares trade higher from the 10 DMA on what is currently running at approximately twice normal daily trading volume. The combination of support at the 10 DMA, advancing price, and sharply increased volume represents the type of bullish technical action I consider a BUY SIGNAL.

James’ Trader’s Tip: Volume Adds Conviction to a Move

  • A stock advancing from the 10 DMA shows that this key technical level is acting as support.

  • When that move occurs on sharply increased volume, it signals stronger-than-normal buying demand.

  • Price strength combined with expanding volume provides greater confirmation than price movement alone.

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Chart services courtesy of stockcharts.com. Annotations by James Taulman.