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Bullish Moving Average Cross by AmerisourceBergen (ABC)

By Shiri Gupta

AmerisourceBergen (NYSE:ABC) crossed over its 10-day moving average of $80.03 on a volume of 437K shares. Swing traders may find 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 $80.99, 10% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has slid 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of AmerisourceBergen on September 14th, 2016 by issuing a Downtrend alert when the shares were trading at $84.45. Since that call, shares of AmerisourceBergen have fallen 5.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses AmerisourceBergen

Ticker(s): ABC