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SmarTrend Watching for Potential Pullback in Shares of Amerisourceberge After 2.61% Gain

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.

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.

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. 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%.

Keywords: rebounders amerisourceberge

Ticker(s): ABC