Score 9 (out of 10): MCKESSON CORP sets up for +11.5% rally in 3 months

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What’s Going On Here?

McKesson Corporation is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools.

Why Now?

MCKESSON CORP has triggered a new high volatility signal (3 month). During similar occasions, MCKESSON CORP shares had a median return of +11.5%, over the following 3 months – based on 10 historical occasions with 10 of those showing positive returns (100%). This buy signal for MCKESSON CORP received a high score of 9 (out of 10). This insight was generated on 2022-July-12 with last price of 327.39.

What’s This Company About?

MCKESSON CORP is in the Medical-Wholesale Drug Dist business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: MCK US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 364.88 (+11.5%) has been reached. Based on MCKESSON CORP’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 317.38 (last price at 327.38), which is equivalent to a -3.1% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

7.5% (May-2022), 30.7% (May- 2020), 20.9% (March-2020), 17.2% (October-2019), 7.8% (November-2018), 4.4% (January-2018), 3.1% (January-2017), 3.6% (October-2016), 15.1% (March-2016), 19.5% (January-2016).

Historical Chart:

Summary:

NameMCKESSON CORP
ViewUp
Star (1 to 10)9.0
Target11.5%
Time3 months
Hit Rate100%

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