The Greedy Trader Weekly Analysis
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Number of records: 4
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AmerisourceBergen Corp.
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Summary:
Weekly :Overbought sectorOversold industry
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a first positive week after 4 consecutive negative weeks for the AmerisourceBergen Corp. (ABC). During the week, the ABC gained 1.01 points, or 1.25%, and closed at 81.98 on Friday, August 10, 2018. Weekly volume was -13% below average.

ABC is a member of Services Sector. Services is the second most overbought sector. ABC is a member of Drugs Wholesale Industry. Drugs Wholesale is the fifth most oversold industry. 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 uptrend had started on October 28, 2016 at 68.38 and reached 106.27 on January 29, 2018. ABC gained -37.89 points, or -55.41%, in 65 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 74.56 and resistance is at 114.06. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge 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 77.28 on August 2, 2018. ABC lost 28.99 points, or 27.28%, in 26 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 78.78 and resistance is at 83.61. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.

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. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 June 15, 2018 at 94.88 and reached 77.28 on August 2, 2018. ABC lost 17.60 points, or 18.55%, in 48 days. The chart has formed a Falling Wedge chart pattern.

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. 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.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.47
Williams' Percentage Range (W%R) 47.80
Lane's Stochastic (%D-Slow) 70.26
Greed/Fear Indicator (GFI) 54.30
Moving Average Converg./Diverg. (MACD) -1.48
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.11
Williams' Percentage Range (W%R) 67.70
Lane's Stochastic (%D-Slow) 25.85
Greed/Fear Indicator (GFI) 35.00
Moving Average Converg./Diverg. (MACD) -0.76
Trading Signals
Description Value Chart
Upper Bollinger Band 87.76
50 Day Moving Average 86.55
Monthly Trendline Resistance 83.61
20 Day Moving Average 83.38
Daily Stochastic Crossing 82.74
Price 81.98
Weekly Stochastic Crossing 81.03
Lower Bollinger Band 79.24
Monthly Trendline Support 78.78
Parabolic System 78.35
Quarterly Trendline Support 74.56
Sector and Industry
Description Name Rank
Sector Services 8
Industry Drugs Wholesale 5
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
High 94.88
High Date 06/15/2018
Low 77.28
Low Date 08/02/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 95.00
High Date 05/02/2018
Low 77.28
Low Date 08/02/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 83.61
Support 78.78
High 106.27
High Date 01/29/2018
Low 77.28
Low Date 08/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 114.06
Support 74.56
Low 68.38
Low Date 10/28/2016
High 106.27
High Date 01/29/2018
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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