Thursday, November 21, 2013

AmerisourceBergen - Barchart's Chart of the Day

AmerisourceBergen (ABC) is the Chart of the Day.  The pharmaceutical services stock has a Trend Spotter buy, a Weighted Alpha of 69.55+ and gained 70.87% in the last year.

The Chart of the Day is AmerisourceBergen (ABC) is the Chart of the Day.  I found the stock by sorting the New High List for frequency then used the flipchart feature to find the chart I liked.  Since the Trend Spotter signaled a buy on 9/9 the stock has gained 18.90%.

It is a pharmaceutical services companies serving the United States, Canada and selected global markets. Servicing both pharmaceutical manufacturers and health care providers in the pharmaceutical supply channel, the Company provides drug distribution and related services designed to reduce costs and improve patient outcomes. It's service solutions range from pharmacy automation and pharmaceutical packaging to pharmacy services for skilled nursing and assisted living facilities, reimbursement and pharmaceutical consulting services, and physician education.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 18 new highs and up 9.28 in the last month
  • Relative Strength Index 75.79%
  • Barchart computes a technical support level at 68.43
  • Recently traded at 69379 with a 50 day moving average of 64.36
Fundamental factors:
  • Market Cap $16.11 billion
  • P/E 22.51
  • Dividend yield 1.36%
  • Revenue projected to grow 30.00% this year and another 3.80% next year
  • Earnings estimated to increase 17.20% this year, an additional 16.30% next year and continue to increase at an annual rate of 13.83% for the next 5 years
  • Wall Street analysts issued 3 strong buy, 5 buy and 6 hold recommendations
  • Financial Strength is A
The stock has been a steady gainer and looks like it's on track to continue.  Watch the 50 day moving average for an exit point

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