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Amerisourceberge Set to Possibly Pullback After Yesterday's Rally of 2.61%

By James Quinn

Amerisourceberge (NYSE:ABC) traded in a range yesterday that spanned from a low of $89.44 to a high of $91.39. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $89.84 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Amerisourceberge has traded in a range of $68.38 to $106.27 and is now at $90.81, 33% 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 is tracking the current trend status for Amerisourceberge and will alert subscribers who have ABC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders amerisourceberge

Ticker(s): ABC