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AmerisourceBergen Corp. (ABC) |
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the AmerisourceBergen Corp. (ABC). During the week, the ABC dropped -4.98 points, or -2.87%, and closed at 168.41 on Friday, May 26, 2023. It was the worst weekly loss since March 10, 2023. Weekly volume was 18% above average.
ABC is a member of Health Care Sector. Health Care 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 176.62 on May 19, 2023. ABC gained -108.24 points, or -158.29%, in 342 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 153.25 and resistance is at 183.02. 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 uptrend had started on March 14, 2023 at 147.48 and reached 176.62 on May 19, 2023. ABC gained -29.14 points, or -19.76%, in 9 weeks. The price is now at the 28.17% retracement level.
 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. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 weekly MACD line is above its signal line since April 14, 2023. This is an indication that the medium-term trend is up. 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 May 19, 2023 at 176.62 and reached 168.21 on May 26, 2023. ABC lost 8.41 points, or 4.76%, in 7 days. Price is near the trend low.
 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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