Amerisourcebergen Corporation Stock Forecast

Red day on Friday for Amerisourcebergen Corporation stock after losing 4.75%
(Updated on Jun 28, 2024)

0HF3.L Signals & Forecast

There are few to no technical positive signals at the moment. The Amerisourcebergen Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $235.58 and $227.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -6.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Amerisourcebergen Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Amerisourcebergen Corporation stock

Amerisourcebergen Corporation finds support from accumulated volume at $224.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.15 (1.40%) between high and low. For the last week, the stock has had daily average volatility of 0.92%.

Our recommended stop-loss: $217.47 (-3.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (0HF3.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Amerisourcebergen Corporation to open at $226.26, and during the day (based on 14 day Average True Range), to move between $221.90 and $228.70, which gives a possible trading interval of +/-$3.40 (+/-1.51%) up or down from last closing price. If Amerisourcebergen Corporation takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $224.89 (0.18%) than the resistance at $230.49 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amerisourcebergen Corporation stock A Buy?

Amerisourcebergen Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Amerisourcebergen Corporation of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.