The Greedy Trader Weekly Analysis
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AmerisourceBergen Corp.
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Summary:
Weekly :Overbought sector
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was a first positive week for the AmerisourceBergen Corp. (ABC). During the week, the ABC gained 2.75 points, or 3.30%, and closed at 86.09 on Friday, June 08, 2018. It was the best weekly gain since April 27, 2018. Weekly volume was -36% 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 trend support level is at 73.96 and resistance is at 87.94. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a long-term trend.

Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 106.27 and reached 81.58 on April 3, 2018. ABC lost 24.69 points, or 23.23%, in 9 weeks. The price is now at the 18.27% retracement level.

Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since March 16, 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 May 2, 2018 at 95.00 and reached 81.97 on May 31, 2018. ABC lost 13.03 points, or 13.72%, in 29 days. The price is now at the 31.62% retracement level.

Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily technical indicators are neutral.

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

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above 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) 54.34
Williams' Percentage Range (W%R) 28.90
Lane's Stochastic (%D-Slow) 75.19
Greed/Fear Indicator (GFI) 66.88
Moving Average Converg./Diverg. (MACD) -0.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.37
Williams' Percentage Range (W%R) 79.70
Lane's Stochastic (%D-Slow) 21.65
Greed/Fear Indicator (GFI) 28.30
Moving Average Converg./Diverg. (MACD) 0.10
Trading Signals
Description Value Chart
Upper Bollinger Band 88.43
Yearly Trendline Resistance 87.94
50 Day Moving Average 86.95
Daily Stochastic Crossing 86.55
Price 86.09
20 Day Moving Average 85.06
Weekly Stochastic Crossing 84.90
Parabolic System 82.75
Lower Bollinger Band 82.52
Yearly Trendline Support 73.96
Sector and Industry
Description Name Rank
Sector Services 8
Industry Drugs Wholesale 12
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 95.00
High Date 05/02/2018
Low 81.97
Low Date 05/31/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 106.27
High Date 01/29/2018
Low 81.58
Low Date 04/03/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.90
Low Date 11/02/2017
High 106.27
High Date 01/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 68.38
Low Date 10/28/2016
High 106.27
High Date 01/29/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Valid
Resistance 87.94
Support 73.96
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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