ABC is approaching resistance at 86.81 where we might see a drop to our first support. Stochastic is also approaching resistance where we might see a corresponding drop in price.
ABC is approaching our first resistance at 87.12 (horizontal overlap resistance, 100% fibonacci extension, 76.4% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 81.08 (horizontal swing low support, 38.2% fiboancci retracement).
Stochastic (55,5,3) is also approaching resistance where we migth see...
A lot of volume came in on Friday closing as a doji at major resistance. Shorts are most likely hopping on board here. Going down to the 4H you can see there is an ascending triangle.
My plan is to enter above February 7th's high with March $85 calls. Should be a strong momentum move to the upside if volume moves in on a breakout of the downtrend line.
Let's see...
ABC is approaching our first resistance at 87.12 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur to our first support at 81.08 (horizontal swing low support, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
ABC is reversed off its resistance at 85.11 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where we expect to see a reversal to its support at 79.81.
Stochastic (89, 5, 3) is approaching resistance where a corresponding reversal could occur.
Let's take a look at AmerisourceBergen Corporation.
we see that we are currently meeting a lot of challenges. we have the two green line which serve as trend limit and backtest. The Red Line was also used in support as a support which now acts as resistance. further we have the 200 EMA which additionally serves as a dump. In my opinion, this is not very strong in...
ABC is approaching its resistance at 81.61 (100% Fiboancci extension, 50% Fibonacci retracement, horizontal pullback resistance) where we expect to see a reversal.
Stochastic is testing resistance as well where a corresponding reversal could occur.
ABC reversed off its resistance at 78.19 100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it could potentially drop further to its support at 68.73 (100% Fibonacci extension).
ABC is approaching support at 78.41 (100% & 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 86.84 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching support at 3.09% where a corresponding bounce could occur.
ABC approaching support at 81.29 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 86.35 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 5.3% where a corresponding bounce could occur.
#ABC Amerisource Bergen Corp american Stock long bias with two new weekly demand levels created around 94.5 and 76. Long bias at weekly and monthly imbalances, clear uptrending market with new levels of demand being created
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