Cencora, Inc. : Return on an important threshold
Entry price | Target | Stop-loss | Potential |
---|
$36.19 |
$0 |
$35.15 |
-100% |
---|
AmerisourceBergen distributes pharmaceutical products and services. From a technical viewpoint, the stock reaches an interesting entry point which shows a good potential.
AmerisourceBergen is trading at a very low level in relation to historic benchmark as shown by the ratio “enterprise value/revenue” at 0.11x. Moreover, the price earnings ratio should be 13.0x, estimated in 2012. According to Thomson-Reuters' consensus, the average target price is set at $ 45, which represents a potential gain of 24 % on the basis of the current price.
Technically, after a recent downward trend distinguished by a bearish gap, the AmerisourceBergen's share comes in contact with important levels (short and mid-term). These supports situated at $35.60 and $35.90 could stop the bearish trend.
Therefore, the proximity at support area of $35.6 could allow investors to take a buy position at this price. Our first target will be the $37.8 resistance and then we could aim at $42 long-term resistance. We should cover this position with a stop loss below $ 35.60.
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