Analysis Summary For AmerisourceBergen Corp. (ABC)
Analysis Date: July 21st, 2023
Time Target: September 14th, 2023 (+/- 5 trading days)
Price Target: $205 (+/- $10)
Projected Move: 60%+ down move by February 15th, 2024 (4 months)
Our work shows that ABC will experience over 60% drop between September of 2023 and February of 2024.
Trading Recommendation:
A short position should be established at any point between $205-215 at mid-September. Most probably around September 15th. A stop loss should be put in at $220. If ABC pushes above this level the overall forecast will fail. A 60% decline should follow into mid-February of 2024 (4-5 months).
A more detailed analysis will be available as we get closer to the September turning point.
