The Greedy Trader Weekly Analysis
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AmerisourceBergen Corp.
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Summary:
Weekly :Overbought sectorBroken trend support lineWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtRelative Strength Index and MACD bearish divergenceDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the AmerisourceBergen Corp. (ABC). During the week, the ABC gained 3.68 points, or 3.86%, and closed at 99.00 on Friday, January 12, 2018. Weekly volume was -20% below average.

ABC is a member of Services Sector. Services is the second 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 Falling Pennant chart pattern. The downtrend resistance line (72.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ABC may retest the broken resistance line. It is considered to be a support line now. 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 November 2, 2017 at 71.90 and reached 99.00 on January 12, 2018. ABC gained -27.10 points, or -37.69%, in 10 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (100.54) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 24, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 December 28, 2017 at 91.75 and reached 99.00 on January 12, 2018. ABC gained -7.25 points, or -7.90%, in 15 days. Price is near the trend high.

Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

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

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.39
Bearish
Williams' Percentage Range (W%R) 4.60
Strong Overbought
Lane's Stochastic (%D-Slow) 93.76
Strong Overbought
Greed/Fear Indicator (GFI) 88.84
Overbought
Moving Average Converg./Diverg. (MACD) 3.02 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.08
Williams' Percentage Range (W%R) 1.80
Strong Overbought
Lane's Stochastic (%D-Slow) 94.90
Strong Overbought
Greed/Fear Indicator (GFI) 86.40
Overbought
Moving Average Converg./Diverg. (MACD) -0.25
Trading Signals
Description Value Chart
Monthly Trendline Resistance 103.52
Monthly Trendline Support 100.54
Price 99.00
Daily Stochastic Crossing 98.74
Upper Bollinger Band 98.41
Weekly Stochastic Crossing 97.92
Parabolic System 95.89
20 Day Moving Average 94.24
Yearly Trendline Resistance 92.16
Lower Bollinger Band 88.95
50 Day Moving Average 86.11
Sector and Industry
Description Name Rank
Sector Services 8
Industry Drugs Wholesale 108
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 91.75
Low Date 12/28/2017
High 99.00
High Date 01/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 91.50
Low Date 12/22/2017
High 99.00
High Date 01/12/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 103.52
Support 100.54
Low 71.90
Low Date 11/02/2017
High 99.00
High Date 01/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 68.38
Low Date 10/28/2016
High 99.00
High Date 01/12/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 92.16
Support 72.56
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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