The Greedy Trader Weekly Analysis
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Price vs. 50 Day Moving Average:Near
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Moving Average Crossover - stock market timing alerts.
The moving average is one of the oldest analytical tools for stock market alerts. It shows the average value of the stock price over a period of time and is used to emphasize the direction of a trend. While price is below the moving average, it is considered as bearish behaviour in relation to the trend length being viewed. When price falls from the level above the moving average to the level below the moving average, it warns that the price trend being viewed may be weakening, and it presents stock market timing alerts. The moving average is a lagging indicator of the price trend. Moving average and stock price crossover is a stock trading signal. The basic interpretation is to buy when the stock price moves above its moving average and to sell when the price moves below its moving average. The length of the moving average should match the trend time frame. We use 20 day moving average crossover to identify weekly trend and 50 day moving average crossover for monthly trend stock market alerts.
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- 7/31/2020 -
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AmerisourceBergen Corp. (ABC)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the AmerisourceBergen Corp. (ABC). During the week, the ABC dropped -3.57 points, or -3.44%, and closed at 100.19 on Friday, July 31, 2020. Weekly volume was -62% below average.

ABC is a member of Health Care Sector. Health Care is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ABC long-term trend chart]
A long-term downtrend had started on April 30, 2015 at 120.68 and reached 68.38 on October 28, 2016. ABC lost 52.30 points, or 43.34%, in 78 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (70.09) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ABC medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 69.36 and reached 105.08 on July 17, 2020. ABC gained -35.72 points, or -51.50%, in 81 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 90.47 and resistance is at 102.86. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See ABC short-term trend chart]
A short-term uptrend had started on March 23, 2020 at 72.06 and reached 105.08 on July 17, 2020. ABC gained -33.02 points, or -45.82%, in 116 days. The chart has formed a Rising Wedge chart pattern. The trend support level is at 98.79 and resistance is at 105.79. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.82
Williams' Percentage Range (W%R) 29.70
Lane's Stochastic (%D-Slow) 42.69
Greed/Fear Indicator (GFI) 56.92
Moving Average Converg./Diverg. (MACD) 1.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.59
Williams' Percentage Range (W%R) 9.30
Strong Overbought
Lane's Stochastic (%D-Slow) 83.54
Overbought Bearish
Greed/Fear Indicator (GFI) 77.44
Moving Average Converg./Diverg. (MACD) 2.91 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 106.86
Weekly Trendline Resistance 105.79
Parabolic System 105.19
Weekly Stochastic Crossing 103.03
Quarterly Trendline Resistance 102.86
20 Day Moving Average 101.25
Daily Stochastic Crossing 100.74
Price 100.19
50 Day Moving Average 99.25
Weekly Trendline Support 98.79
Lower Bollinger Band 96.15
Yearly Trendline Resistance 93.13
Quarterly Trendline Support 90.47
Sector and Industry
Description Name Rank
Sector Health Care 10
Industry Health Care Distributors 65
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 94.76
Low Date 07/09/2020
High 105.08
High Date 07/17/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 105.79
Support 98.79
Low 72.06
Low Date 03/23/2020
High 105.08
High Date 07/17/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 79.75
Low Date 10/03/2019
High 105.08
High Date 07/17/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 102.86
Support 90.47
Low 69.36
Low Date 12/26/2018
High 105.08
High Date 07/17/2020
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 93.13
Support 70.09
High 120.68
High Date 04/30/2015
Low 68.38
Low Date 10/28/2016
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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