AmerisourceBergen (ABC): Pharmaceutical distributor could take off with corona vaccine! (Achim Mautz)

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Agreement with US health authorities on vaccine distribution & settlement in opioid litigation in sight. AmerisourceBergen (ABC) before breakout!
Symbol: ABC RAY: US03073E1055

Trend analysis based on 6 months
Review: The share of the pharmaceutical distributor was able to gain a little more than 8 percent in the past six months and reached on November 11th. a new annual high. This was followed by a reset to the 50 EMA. In the last few days, the security was able to stabilize with significantly smaller daily candles above the 20 EMA and thereby develop a resistance line.

Chart from 11/27/2020 – basis daily, 6 months – rate: 103.20 USD

My expert opinion on ABC
Opinion:
AmerisourceBergen is a pharmaceutical wholesaler headquartered in Chesterbrook, Pennsylvania, with approximately 22,000 employees. The company recently reported profits just above analysts’ expectations with significant sales growth. It is involved in legal disputes with other companies in the industry in connection with the distribution of prescription opioid pain relievers. There is, however, a prospect that an agreement, albeit a costly one, can be reached. AmerisourceBergen has already reached an agreement with the US health authorities regarding the distribution of corona vaccines.

Possible setup:
Buy signal: 103.95 USD, target price: 111.25 USD, stop loss: 101.44 USD

For the buy signal and stop loss, we use the daily candle from last Wednesday and thus achieve the price target at the annual and pivot high of 11.11. a risk-reward ratio of 2.9. New quarterly figures will not be available again until February so that they don’t get in the way of the setup.

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Outlook: BULLISH

Author: Thomas Canali currently has no positions in ABC.

Analysis prepared on behalf of


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The post AmerisourceBergen (ABC): Pharmaceutical distributor could take off with corona vaccine! first appeared on Day Trading & Swing Trading.

Originally published here: AmerisourceBergen (ABC): Pharmaceutical distributor could take off with corona vaccine!

(30.11.2020)


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To avoid possible conflicts of interest through price manipulation, the so-called scalping (steer prices in a certain direction), only strongly market capitalized securities with a minimum trading volume of 500,000 units per day, indices, raw materials and currencies are discussed.

Pursuant to Section 48f (5) BörseG, the authors of the reports disclose that they themselves could have a financial interest in individual financial instruments that are the subject of the analyzes. The author of the article is currently not invested.

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1. Coronavirus, microscope, infection, epidemic, virus (picture: https://pixabay.com/de/photos/impfstoff-epidemie-voc-virus-4815052/) >> Open on photaq.com

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