The Greedy Trader Weekly Analysis
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AmerisourceBergen Corp.
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Summary:
Weekly :Lane's Stochastic is oversold
Daily :Lane's Stochastic is overbought
Move cursor over the icon to see details.

It was a third positive week after 3 consecutive negative weeks for the AmerisourceBergen Corp. (ABC). During the week, the ABC gained 2.34 points, or 3.15%, and closed at 76.56 on Friday, January 11, 2019. It was the best weekly gain since November 2, 2018. Weekly volume was -9% below average.

Long-term trend: [See ABC long-term trend chart]
A long-term downtrend had started on January 29, 2018 at 106.27 and reached 69.36 on December 26, 2018. ABC lost 36.91 points, or 34.73%, in 47 weeks. The price is now at the 19.51% retracement level.

Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on October 19, 2018 at 94.85 and reached 69.36 on December 26, 2018. ABC lost 25.49 points, or 26.87%, in 9 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 65.51 and resistance is at 86.70. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since November 30, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See ABC short-term trend chart]
A short-term downtrend had started on November 13, 2018 at 92.59 and reached 69.36 on December 26, 2018. ABC lost 23.23 points, or 25.09%, in 43 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 62.29 and resistance is at 84.32. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since January 3, 2019.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.10
Williams' Percentage Range (W%R) 55.10
Lane's Stochastic (%D-Slow) 86.18
Overbought
Greed/Fear Indicator (GFI) 65.40
Moving Average Converg./Diverg. (MACD) -2.86
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.54
Williams' Percentage Range (W%R) 75.40
Lane's Stochastic (%D-Slow) 17.19
Oversold
Greed/Fear Indicator (GFI) 27.89
Moving Average Converg./Diverg. (MACD) -1.16
Trading Signals
Description Value Chart
Monthly Trendline Resistance 86.70
Weekly Trendline Resistance 84.32
50 Day Moving Average 82.87
Upper Bollinger Band 81.65
Price 76.56
Daily Stochastic Crossing 76.38
20 Day Moving Average 75.13
Weekly Stochastic Crossing 72.91
Lower Bollinger Band 71.98
Parabolic System 71.84
Monthly Trendline Support 65.51
Weekly Trendline Support 62.29
Sector and Industry
Description Name Rank
Sector Services 4
Industry Drugs Wholesale 67
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 69.36
Low Date 12/26/2018
High 76.90
High Date 01/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 84.32
Support 62.29
High 92.59
High Date 11/13/2018
Low 69.36
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 86.70
Support 65.51
High 94.85
High Date 10/19/2018
Low 69.36
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 106.27
High Date 01/29/2018
Low 69.36
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.33
Low Date 11/21/2008
High 120.68
High Date 04/30/2015
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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