The Greedy Trader Weekly Analysis
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Number of records: 10
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AmerisourceBergen Corp.
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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the AmerisourceBergen Corp. (ABC). During the week, the ABC dropped -1.64 points, or -1.78%, and closed at 90.58 on Friday, October 05, 2018. Weekly volume was -25% 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 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 75.10 and resistance is at 116.30. 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 downtrend resistance line (75.00) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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.

The weekly MACD line is above its signal line since August 24, 2018. The distance between MACD and the signal line is low, but getting bigger. 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 September 12, 2018 at 83.39 and reached 93.94 on October 1, 2018. ABC gained -10.55 points, or -12.65%, in 19 days. The chart has formed a Rising 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 main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since September 19, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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) 66.84
Williams' Percentage Range (W%R) 27.80
Lane's Stochastic (%D-Slow) 51.36
Greed/Fear Indicator (GFI) 63.48
Moving Average Converg./Diverg. (MACD) 1.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.61
Williams' Percentage Range (W%R) 22.00
Lane's Stochastic (%D-Slow) 83.35
Overbought
Greed/Fear Indicator (GFI) 71.75
Moving Average Converg./Diverg. (MACD) -0.55
Trading Signals
Description Value Chart
Upper Bollinger Band 94.68
Parabolic System 94.03
Weekly Stochastic Crossing 91.68
Daily Stochastic Crossing 91.49
Price 90.58
20 Day Moving Average 89.18
50 Day Moving Average 87.09
Lower Bollinger Band 84.92
Monthly Trendline Resistance 76.10
Quarterly Trendline Support 75.10
Monthly Trendline Support 75.00
Sector and Industry
Description Name Rank
Sector Services 8
Industry Drugs Wholesale 107
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 83.39
Low Date 09/12/2018
High 93.94
High Date 10/01/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 77.28
Low Date 08/02/2018
High 93.94
High Date 10/01/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 76.10
Support 75.00
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 116.30
Support 75.10
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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