The Greedy Trader Weekly Analysis
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Number of records: 10
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
AmerisourceBergen Corp.
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Summary:
Weekly :Oversold sectorPrice is near the Fibonacci 38.2% retracement levelTrend resistance at 85.54
Daily :Stochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergenceBroken trend resistance linePrice has crossed above 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 4.10 points, or 5.15%, and closed at 83.76 on Friday, February 1, 2019. It was the best weekly gain since October 19, 2018. Weekly volume was 63% above average.

ABC is a member of Services Sector. Services is the second most oversold 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 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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on October 19, 2018 at 94.85 and reached 69.36 on December 26, 2018. ABC lost 25.49 points, or 26.87%, in 9 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (85.54). 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 technical indicators are neutral.

The weekly MACD line is below its signal line since November 30, 2018. 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 December 26, 2018 at 69.36 and reached 85.86 on January 31, 2019. ABC gained -16.50 points, or -23.79%, in 36 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (81.17) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.

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 below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 daily MACD line is above its signal line since January 3, 2019. This is an indication that the short-term trend is up.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 73.78
Williams' Percentage Range (W%R) 30.30
Lane's Stochastic (%D-Slow) 74.54
Bearish
Greed/Fear Indicator (GFI) 72.66
Moving Average Converg./Diverg. (MACD) 0.02 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.65
Williams' Percentage Range (W%R) 51.10
Lane's Stochastic (%D-Slow) 35.14
Greed/Fear Indicator (GFI) 43.54
Moving Average Converg./Diverg. (MACD) -2.01
Trading Signals
Description Value Chart
Monthly Trendline Resistance 85.54
Upper Bollinger Band 84.14
Price 83.76
Daily Stochastic Crossing 83.44
Weekly Trendline Resistance 82.08
Weekly Trendline Support 81.17
50 Day Moving Average 80.26
Parabolic System 78.40
20 Day Moving Average 78.18
Weekly Stochastic Crossing 77.51
Lower Bollinger Band 74.11
Sector and Industry
Description Name Rank
Sector Services 2
Industry Drugs Wholesale 57
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 78.33
Low Date 01/30/2019
High 85.86
High Date 01/31/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 82.08
Support 81.17
Low 69.36
Low Date 12/26/2018
High 85.86
High Date 01/31/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 85.54
Support 61.09
High 94.85
High Date 10/19/2018
Low 69.36
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 106.27
High Date 01/29/2018
Low 69.36
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.33
Low Date 11/21/2008
High 120.68
High Date 04/30/2015
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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