Move cursor over the icon to see details.
|It was the negative week for the AmerisourceBergen Corp. (ABC). During the week, the ABC dropped -1.67 points, or -2.11%, and closed at 77.47 on Friday, May 10, 2019. Weekly volume was 14% above 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 chart has formed a Falling Channel chart pattern. The trend support level is at 62.91 and resistance is at 84.56. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on February 7, 2019 at 87.53 and reached 70.55 on April 22, 2019. ABC lost 16.98 points, or 19.40%, in 10 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (66.63) 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 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 22, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 April 22, 2019 at 70.55 and reached 79.79 on May 9, 2019. ABC gained -9.24 points, or -13.10%, in 17 days. The chart has formed a Rising Wedge chart pattern.
Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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 daily MACD line is above its signal line since April 25, 2019. This is an indication that the short-term trend is up.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.