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AmerisourceBergen Stock Is Poised to Retest Key Support Levels

Bruce Kamich

peaked back in October and sold off with the broad market into late December. In the daily bar chart of ABC, below, we can see that prices are testing a declining or bearish 50-day moving average line and are clearly below the bearish 200-day moving average line. The daily On-Balance-Volume (OBV) line has been rising from late December and suggests that buyers of ABC have been more aggressive -- unfortunately prices have been mostly weak since February.