Amerisourcebergen Corporation Stock Forecast
Evaluation of Amerisourcebergen Corporation stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Amerisourcebergen Corporation stock price fell by -0.511% on the last day (Tuesday, 25th Jun 2024) from $240.50 to $239.27. During the last trading day the stock fluctuated 0.736% from a day low at $239.03 to a day high of $240.79. The price has risen in 5 of the last 10 days and is up by 2.74% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -68 shares and in total, 200 shares were bought and sold for approximately $47.85 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $240.29 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.98% during the next 3 months and, with a 90% probability hold a price between $201.39 and $228.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0HF3.L Signals & Forecast
The Amerisourcebergen Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $237.12 and $227.07. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.511%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Amerisourcebergen Corporation stock
Amerisourcebergen Corporation finds support from accumulated volume at $236.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.76 between high and low, or 0.736%. For the last week the stock has had daily average volatility of 0.85%.
Our recommended stop-loss: $230.34 (-3.73%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (0HF3.L) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Amerisourcebergen Corporation to open at $239.70, and during the day (based on 14 day Average True Range), to move between $236.29 and $242.25, which gives a possible trading interval of +/-$2.98 (+/-1.24%) up or down from last closing price. If Amerisourcebergen Corporation takes out the full calculated possible swing range there will be an estimated 2.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $241.69 (1.01%) than the support at $236.12 (1.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Amerisourcebergen Corporation stock A Buy?
Amerisourcebergen Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.110 Hold/Accumulate Downgraded
Predicted Opening Price for Amerisourcebergen Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $239.70 ( 0.178%) | $239.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0HF3.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 241.46 | 0.91% |
| R2 | 240.78 | 0.633% |
| R1 | 240.37 | 0.459% |
| Price | 239.27 | |
| S1 | 239.02 | -0.103% |
| S2 | 238.61 | -0.276% |
| S3 | 237.94 | -0.557% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 244.37 | 2.13% |
| R2 | 244.21 | 2.06% |
| R1 | 241.69 | 1.01% |
| Price | 239.27 | |
| S1 | 236.12 | -1.32% |
| S2 | 230.65 | -3.60% |
| S3 | 230.49 | -3.67% |
0HF3 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 24, 2024 | $0.510 | 0.233% |
| 2 | Feb 08, 2024 | Feb 08, 2024 | Feb 26, 2024 | $0.510 | 0.214% |
| 3 | Nov 10, 2023 | Nov 10, 2023 | Nov 10, 2023 | $0.510 | 0.258% |
| 4 | Aug 10, 2023 | Aug 10, 2023 | Aug 10, 2023 | $0.485 | 0.258% |
| 5 | May 11, 2023 | May 11, 2023 | May 11, 2023 | $0.485 | 0.283% |
FAQ
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