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 :Broken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtPrice is close to the 50 Day Moving Average
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.23
Williams' Percentage Range (W%R) 9.60
Strong Overbought
Lane's Stochastic (%D-Slow) 78.86
Greed/Fear Indicator (GFI) 79.49
Moving Average Converg./Diverg. (MACD) -0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.89
Williams' Percentage Range (W%R) 47.50
Lane's Stochastic (%D-Slow) 31.26
Greed/Fear Indicator (GFI) 42.31
Moving Average Converg./Diverg. (MACD) -2.26
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 84.56
Upper Bollinger Band 81.24
Daily Stochastic Crossing 78.32
Price 77.47
50 Day Moving Average 76.97
Parabolic System 76.44
20 Day Moving Average 75.36
Weekly Trendline Resistance 75.31
Weekly Stochastic Crossing 74.33
Lower Bollinger Band 71.75
Weekly Trendline Support 66.63
Quarterly Trendline Support 62.91
Sector and Industry
Description Name Rank
Sector Services 7
Industry Drugs Wholesale 35
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 70.55
Low Date 04/22/2019
High 79.79
High Date 05/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 75.31
Support 66.63
High 87.53
High Date 02/07/2019
Low 70.55
Low Date 04/22/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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 Falling Channel
Status Valid
Resistance 84.56
Support 62.91
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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