The Greedy Trader Weekly Analysis
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Archive
- 11/10/2017
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AmerisourceBergen Corp.
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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is oversoldTrend resistance at 75.23
Daily :Stochastic signal line moved above oversold areaBullish Doji Candlestick
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It was a first positive week for the AmerisourceBergen Corp. (ABC). During the week, the ABC climbed 0.20 points, or 0.27%, and closed at 75.00 on Friday, November 10, 2017. Weekly volume was 37% above average.

Long-term trend: [See ABC long-term trend chart]
A long-term uptrend had started on October 28, 2016 at 68.38 and reached 97.85 on June 29, 2017. ABC gained -29.47 points, or -43.10%, in 34 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (92.15) 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 long-term trend.

Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on June 29, 2017 at 97.85 and reached 71.90 on November 2, 2017. ABC lost 25.95 points, or 26.52%, in 18 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (75.23). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since July 28, 2017. 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 3, 2017 at 75.30 and reached 73.35 on November 8, 2017. ABC lost 1.95 points, or 2.59%, in 5 days. The price is now at the 84.62% retracement level.

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 above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since October 26, 2017. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Candlestick pattern: [See ABC candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 22.09
Williams' Percentage Range (W%R) 77.30
Lane's Stochastic (%D-Slow) 35.61
Greed/Fear Indicator (GFI) 26.79
Moving Average Converg./Diverg. (MACD) -1.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.78
Williams' Percentage Range (W%R) 87.90
Oversold
Lane's Stochastic (%D-Slow) 29.15
Greed/Fear Indicator (GFI) 29.01
Moving Average Converg./Diverg. (MACD) -1.74
Trading Signals
Description Value Chart
Upper Bollinger Band 83.57
50 Day Moving Average 80.06
20 Day Moving Average 78.01
Parabolic System 77.30
Weekly Stochastic Crossing 76.05
Monthly Trendline Resistance 75.23
Price 75.00
Daily Stochastic Crossing 74.66
Lower Bollinger Band 71.11
Monthly Trendline Support 70.69
Sector and Industry
Description Name Rank
Sector Services 4
Industry Drugs Wholesale 11
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 75.73
High Date 11/07/2017
Low 73.35
Low Date 11/08/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 75.30
High Date 11/03/2017
Low 73.35
Low Date 11/08/2017
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 75.23
Support 70.69
High 97.85
High Date 06/29/2017
Low 71.90
Low Date 11/02/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 101.16
Support 92.15
Low 68.38
Low Date 10/28/2016
High 97.85
High Date 06/29/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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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