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Bearish Moving Average Cross by AmerisourceBergen (ABC)

By James Quinn

Today, shares of AmerisourceBergen (NYSE:ABC) have fallen below their 10-day MA of $88.89 on a volume of 207K 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.

AmerisourceBergen share prices have moved between a 52-week high of $116.28 and a 52-week low of $73.31 and are now trading 21% above that low price at $88.65 per share. The 200-day and 50-day moving averages have moved 0.63% lower and 0.36% lower over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of AmerisourceBergen on June 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.38. Since that recommendation, shares of AmerisourceBergen have risen 14.1%. We continue to monitor ABC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses AmerisourceBergen

Ticker(s): ABC