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Price vs. Upper Bollinger Band:Crossover
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Bollinger Band crossover - Stock market timing signal.
The Bollinger bands indicator developed by John Bollinger in the early 1980s is one of the most popular and powerful trading tools. These bands are charted two standard deviations away from a simple moving average, and they provide a relative definition of high and low. Bollinger bands trading technique uses one band as an entry point exit of the other. The center band presents a neutral support/resistance level. As with most indicators, signals generated by bollinger band crossover should be confirmed using complimentary indicators.
bollinger bands,bollinger band crossover,stock market timing signal,bollinger band indicator screener

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- 10/16/2020 -
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AmerisourceBergen Corp. (ABC)

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is overboughtPrice has crossed above the 50 Day Moving Average
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It was a second consecutive positive week for the AmerisourceBergen Corp. (ABC). During the week, the ABC gained 2.66 points, or 2.75%, and closed at 99.52 on Friday, October 16, 2020. Weekly volume was -49% below average.

Long-term trend: [See ABC long-term trend chart]
A long-term uptrend had started on December 26, 2018 at 69.36 and reached 106.45 on August 5, 2020. ABC gained -37.09 points, or -53.47%, in 84 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 91.03 and resistance is at 108.81. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on August 5, 2020 at 106.45 and reached 92.00 on September 24, 2020. ABC lost 14.45 points, or 13.57%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (90.72) 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 August 28, 2020. This is an indication that the medium-term trend is down. 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 October 2, 2020 at 93.96 and reached 100.61 on October 15, 2020. ABC gained -6.65 points, or -7.08%, in 13 days. The price is now at the 16.39% retracement level.

Daily Technical Indicators: [See ABC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 September 16, 2020. 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. While the medium-term trend is down and 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) 57.60
Williams' Percentage Range (W%R) 11.70
Overbought
Lane's Stochastic (%D-Slow) 72.87
Greed/Fear Indicator (GFI) 72.91
Moving Average Converg./Diverg. (MACD) -0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.72
Williams' Percentage Range (W%R) 47.40
Lane's Stochastic (%D-Slow) 31.97
Greed/Fear Indicator (GFI) 43.69
Moving Average Converg./Diverg. (MACD) 2.24
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 108.81
Upper Bollinger Band 100.11
Price 99.52
Daily Stochastic Crossing 99.43
50 Day Moving Average 97.74
20 Day Moving Average 96.62
Parabolic System 96.41
Weekly Stochastic Crossing 94.92
Lower Bollinger Band 94.30
Monthly Trendline Resistance 91.52
Quarterly Trendline Support 91.03
Monthly Trendline Support 90.72
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Distributors 24
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 93.96
Low Date 10/02/2020
High 100.61
High Date 10/15/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 92.00
Low Date 09/24/2020
High 100.61
High Date 10/15/2020
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 91.52
Support 90.72
High 106.45
High Date 08/05/2020
Low 92.00
Low Date 09/24/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 108.81
Support 91.03
Low 69.36
Low Date 12/26/2018
High 106.45
High Date 08/05/2020
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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