In my last post on AmerisourceBergen Corp. or ABC as listed in the New York stock exchange, I thought there was a possible bearish divergence between the price and the MACD which could propel the stocks to breakdown from the channel but apparently not. The stocks were aiming for the 32.49 all-time high but it only reached 32.46 yesterday. If the stocks successfully breaks above the 32.49 price mark, new highs could be made and the resistance left would be the trading channel’s resistance. On the downside, if the price retreats and breaks below the ascending channel, the next support could be 30.31. For the meantime, the price could just maintain its movement within the channel, so until the ascending channel gets broken and the stock reverses, I’d remain bullish on it.
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