This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.

The US stock market continues to rise, and that has got many traders cheering.

However, I think that it’s time to be a little more defensive by looking at stocks in the traditionally defensive sectors, such as Healthcare.

So, shall we jump in and analyze this Healthcare stock – Cardinal Health?

Brief History of Cardinal Health

Source: cardinalhealth.com/en.html

Did you know that Cardinal Health was founded as a food wholesaler back in 1971?

It pivoted into a pharmaceutical company shortly and began acquiring companies to begin selling drugs as a wholesaler.

Business was brisk and the company got listed in 1983.

Through more acquisitions, Cardinal Health evolved into the company it is today, providing customized healthcare solutions, pharmacies, ambulatory surgery centers, clinical laboratories, and more.

Does its current financial health mirror reflect at least a slice of its glorious history?

Let’s find out.

Business Model and Financials

Source: tradingview.com

Shall we pay closer attention to Cardinal Health’s total revenue (in blue) and net income (in yellow)?

Cardinal Health’s total revenue has been topping the charts year after year! It has been growing at least 5% every year from 2017 to 2022.

Can the same be said of its net income?

Unfortunately, no.

Its net income has been suffering wild swings from billions in dollars in profit to $769m in losses.

Is this erratic performance a cause for concern?

A look at its price chart will reveal the answer.

Technical Analysis on Cardinal Health (NYSE: CAH)

A quick glance and you can tell that the price chart of Cardinal Health is in a mighty uptrend.

There’s no need to plot your trendlines or put on your moving averages.

All you need to do is to compare the number of blue (solid and outlined) candles to the number of red (solid and outlined) candles.

Moreover, there are 2 main indicators on the chart that are helpful in telling you if the time to position trade Cardinal Health’s shares is here.

Want to know?

They are the red/green arrow and Trend Impulse Factor indicator.

Because this stock is in an uptrend, you’ll want to be looking for buying opportunities.

You’ll want to see a green arrow appear above its latest candle, and the bar of its Trend Impulse Factor indicator dark green in color.

On the chart of Cardinal Health, you can see a green arrow below its latest candle.

However, the bar of its Trend Impulse Factor isn’t dark green yet.

This means that although its share price has been rising, it’s not ripe for a position trading opportunity just yet.

Conclusion

Source: cardinalhealth.com/en/services/hospital-and-health-systems.html

Cardinal Health has enjoyed great success in its early years.

Though its net income fluctuates greatly, its total revenue has been growing steadily.

Besides, its share price has been rising!

However, the time to buy its shares isn’t here yet because the 2 main indicators aren’t in agreement just yet. Give it some time and a position trading opportunity could present itself.

Both the arrow and Trend Impulse Factor indicator have been tested and proven. They form the TradersGPS (TGPS) system to help you decipher if a stock is ripe for a position trade. You won't have to feel in the dark and make wild guesses.

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If you’re like most people, you probably think that building a profitable side income stream from the stock market is something that is extremely difficult to achieve, and time-consuming as well.

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Companies that you like such as TSLA, META, AAPL etc..?

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