Amerisourcebergen Corp (ABC): Price Now Near $114.13; Daily Chart Shows Downtrend on 20 Day Basis

The Hourly View for ABC

At the moment, ABC (Get Ratings)’s price is up $0.25 (0.22%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ABC has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Out of Wholesale stocks, ABC ranks 78th in regards to today’s price percentage change.

ABC’s Technical Outlook on the Daily Chart

At the moment, ABC’s price is down $-0.08 (-0.07%) from the day prior. The daily chart shows that ABC has seen 2 straight down days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows ABC’s price action over the past 90 days.

ABC

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ABC: Daily RSI Analysis

  • For ABC, its RSI is now at 22.8261.
  • ABC and RSI may be exhibiting divergent trends. This may be something to monitor.

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