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AmerisourceBergen Corp. (ABC) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the AmerisourceBergen Corp. (ABC). During the week, the ABC gained 2.42 points, or 1.62%, and closed at 152.02 on Friday, March 17, 2023. ABC was trading at average weekly trading volume.
 Long-term trend: [See ABC long-term trend chart]
A long-term uptrend had started on October 28, 2016 at 68.38 and reached 174.63 on December 2, 2022. ABC gained -106.25 points, or -155.38%, in 318 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (150.44) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.
 Medium-term trend: [See ABC medium-term trend chart]
A medium-term downtrend had started on December 2, 2022 at 174.63 and reached 147.48 on March 14, 2023. ABC lost 27.15 points, or 15.55%, in 14 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 144.90 and resistance is at 159.87. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ABC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 weekly MACD line is below its signal line since January 27, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See ABC short-term trend chart]
A short-term downtrend had started on February 17, 2023 at 163.59 and reached 147.48 on March 14, 2023. ABC lost 16.11 points, or 9.85%, in 25 days. The chart has formed a Falling 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 rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since February 27, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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