AmerisourceBergen Crosses Above its 10-day MA (ABC)
Today, shares of AmerisourceBergen (NYSE:ABC) have advanced above their 10-day MA of $74.42 on a volume of 344K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, AmerisourceBergen has traded in a range of $73.31 to $116.28 and is now at $74.57, 2% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.4%.
SmarTrend recommended that its subscribers protect gains by selling shares of AmerisourceBergen on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $85.43. Since that call, shares of AmerisourceBergen have fallen 13.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses AmerisourceBergen