The last time I posted about AmerisourceBergen Corp. or ABC in the New York Stock Exchange was when it was still creating new highs (kindly check here). However last week, it had broken down from the support of its 16-month ascending channel (indicated by the red circle) and tapped the $30.31 support. If the price completely drops below the $30.31 price mark, the next support could be $29.50. In case the ABC stocks get back on track and start to ascend, the current resistance could be the broken ascending channel’s support. If that hurdle gets cleared out, the next resistance could be $32.67.
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