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SmarTrend Watching for Potential Pullback in Shares of Amerisourceberge After 3.66% Gain

By Shiri Gupta

Amerisourceberge (NYSE:ABC) traded in a range yesterday that spanned from a low of $88.54 to a high of $91.38. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $88.05 on volume of 933,000 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 $71.90 to $106.27 and is now at $91.17, 27% above that low. The 200-day and 50-day moving averages have moved 0.15% higher and 0.17% higher over the past week, respectively.

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