Bullish DailyPlay for Thursday March 16th, 2017 – AmerisourceBergen (ABC)
The bullish DailyPlay we chose for Thursday March 16th is AmerisourceBergen (ABC). ABC is part of the Health Care Sector (XLV). Over the last month, XLV has experienced a 5.93% move higher and its 1m and 6m trend has turned bullish on 2/1 and recently broke higher above its $76 resistance level.
AmerisourceBergen’s 1m and 6m trends turned bullish on 1/31 and recently bounced higher off its $87 support level. With a technical score of 5 (out of 10), ABC is a strong bullish stock that looks to continue higher.
As a stop loss, if ABC was to trade below $87 for multiple days, this would invalidate our analysis and suggest getting out of the trade.