Cencora, Inc. : No reverseal expected
Entry price | Target | Stop-loss | Potential |
---|
US$54.96 |
US$61 |
US$54.5 |
+10.99% |
---|
AmerisourceBergen, a Chesterbrook, Pennsylvania based drug wholesale company could exceed the threshold of USD 56.3.
Regarding the fundamentals, the group is in a good financial situation. Sales are expected to rise by 9.3% on the current year with an EPS of USD 2.80. The company is relatively undervalued with a ratio "Enterprise value/revenue" of 0.15x.
Technically, the stock is moving in an upward trend for many months. This movement reflects a buyer enthusiasm confirmed also by the well orientation of moving averages. The security is going toward USD 56.3 and would give a strong buying signal if the crossing is confirmed in daily closing.
Therefore, investors will benefit from the signal given by the crossing of the USD 56.3 resistance to take a long position in the stock. The objective will be set near USD 61. Once the position is opened, a stop loss should be fixed under effective entry point to guard against a trend reversal.
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