New Highs: Strong Buying Volume for MCK

Did you see this trade setup? Without this indicator, I wouldn’t have spotted it myself. April 4th, 2024 New Highs: Strong Buying Volume for MCK Did you see this trade setup? Without this indicator, I wouldn’t have spotted it myself. Today we will be looking at an On Balance Volume chart for McKesson Corp. (MCK). McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. Confirming a Price Uptrend with OBV We can see from the OBV chart below that the On Balance Volume line for MCK is sloping up. An up-sloping line indicates that the volume is heavier on up days and buying pressure is exceeding selling pressure. Buying pressure must continue to exceed selling pressure in order to sustain a price uptrend. So, On Balance Volume is a simple indicator to use that confirms the price uptrend and its sustainability. Confirmed ‘Buy’ Signal for MCK Since MCK’s OBV line is sloping up, the most likely future price movement for MCK is up, making MCK a good candidate for a stock purchase or a call option spread. Today we are going to look at a potential call option spread for MCK. The analysis reveals that if MCK stock is flat or up at all at expiration the spread will realize a 60.0% return (circled). And if MCK stock decreases 7.5% at option expiration, the option spread would make a 58.7% return (circled). Due to option pricing characteristics, this option spread has a ‘built in’ 60.0% profit potential when the trade was identified*. Option spread trades can result in a higher percentage of winning trades compared to a directional option trade if you can profit when the underlying stock/ETF is up, down or flat. A higher percentage of winning trades can give you the discipline needed to become a successful trader. The Hughes Optioneering Team is here to help you identify profit opportunities just like this one. Unlock the Secrets to My Successful Trading With the [Options for Income Newsletter]( you’ll gain access to multiple actionable trade setups every week, analysis of the underlying stock trends, a calculator breakdown of the setup, and access to an exclusive member-only website. Our newsletter will guide you through the complex world of options trading, providing you with the tools and knowledge you need to master the strategies. [Click here]( to sign up now!  Wishing You the Best in Investing Success, Chuck Hughes Editor, Trade of the Day Have any questions? Email us at [dailytrade@chuckstod.com]( *Trading incurs risk and some people lose money trading.  --------------------------------------------------------------- See Related Articles [PSX: Oil’s Rise Boosts Refiner’s Stock]( [Momentum Drives GOOGL to New Highs]( [MSFT Poised for Next Bullish Breakout?](  --------------------------------------------------------------- [TradeWins Logo](  © 2024 Tradewins Publishing. All rights reserved. | [Privacy Policy]( | [Terms and Conditions]( | [Contact Us]( If you didn't create an account using this email address, please ignore this email or unsubscribe using the link below. To ensure delivery of this email to your inbox and to enable images to load in future mailings, please add [todaystrade@chuckstod.com]( to your e-mail address book or safe senders list. DISCLAIMER: Auto-trading, or any broker or advisor-directed type of trading, is not supported or endorsed by Legacy Publishing LLC. For additional information on auto-trading, you may visit the SEC's website: All About Auto-Trading. The information provided by the Legacy Publishing LLC (“Legacy”) Trading Services, newsletters and educational publications (“Services”) is not customized or personalized to any particular risk profile or tolerance. Nor is the information published by Legacy a customized or personalized recommendation to buy, sell, hold, or invest in particular financial products. Past performance is not necessarily indicative of future results. Please note that results may not be typical and can vary from person to person. There are inherent risks involved with investing in the stock and options market, including the loss of your investment. Any investment is at your own risk. You should only trade or invest your "risk capital" – money you can afford to lose. This email was sent to {EMAIL} by chuckstod@tradewins.com TradeWins Publishing Corp.528 North Country Rd.St. James, NY 11780 [1-Click Unsubscribe]( | [Edit Profile]( | [Manage Subscriptions]( | [Report Spam](