In our April 28 update on McKesson (MCK) we thought that MCK was forming a bottom.
Today's gap to the upside and strong advance reinforces this line of thinking.
In this daily chart of MCK, above, we can see that today's rally brings us much closer to a possible close above the 200-day moving average line. A close over $180 with good volume will be positive.
In this weekly chart, above, a close over $180 on a Friday will break the 40-week moving average line. The On-Balance Volume line could well turn up when it is calculated and plotted on Friday. The MACD oscillator gave a cover shorts buy signal, but a strong finish to the week should bring the lines closer to the zero line and an outright buy signal.