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Bearish Moving Average Cross by Amerisourceberge (ABC)

By James Quinn

Amerisourceberge (NYSE:ABC) crossed under its 10-day moving average of $88.73 on a volume of 263K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Amerisourceberge have traded between a low of $69.36 and a high of $94.85 and are now at $87.07, which is 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Amerisourceberge on May 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.62. Since that recommendation, shares of Amerisourceberge have risen 13.2%. We continue to monitor ABC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amerisourceberge

Ticker(s): ABC