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How the price action of Amerisourcebergen ABC is used to our Advantage
Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Amerisourcebergen (NYSE: ABC) data table below can help you with price action, and we have more details too. Trading plans for ABC are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Weak | Strong |
| P1 | 0 | 0 | 108.08 |
| P2 | 118.75 | 116.05 | 115.40 |
| P3 | 120.26 | 119.65 | 123.04 |
⚠Triggers may have already come
Support and Resistance Plot Chart for ABC
Longer Term Trading Plans for ABC
June 10, 2021, 7:45 pm ET
Our Longer Term Plans for ABC help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this ABC Report.
ABC - (Long) Support Plan
Buy over 115.40 target 123.04 stop loss @ 115.07
The technical summary data tells us to buy ABC near 115.40 with an upside target of 123.04. This data also tells us to set a stop loss @ 115.07 to protect against excessive loss in case the stock begins to move against the trade. 115.40 is the first level of support below 120.94 , and by rule, any test of support is a buy signal. In this case, support 115.40 is being tested, a buy signal would exist.
ABC - (Short) Resistance Plan
Short under 123.04, target 115.40, stop loss @ 123.4
The technical summary data is suggesting a short of ABC as it gets near 123.04 with a downside target of 115.40. We should have a stop loss in place at 123.4though. 123.04 is the first level of resistance above 120.94, and by rule, any test of resistance is a short signal. In this case, if resistance 123.04 is being tested, a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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