The USD 73.6 support, currently tested, should allow AmerisourceBergen to rally again in the direction of the daily moving averages.
From a fundamental viewpoint, the company seems undervalued relatively to its peers with a EV/Sales of 0.12.
In the recent months, the earnings estimates for the next year are regularly revised upward by analysts.
Technically, the security is in a negative configuration in the short term as the bearish trend of 20-day moving average, currently at USD 80 shows. Nevertheless, the stock seems in an oversold situation, near to its USD 73.65 support in daily data. This level might stop the bearish trend in the short term.
Thanks to the technical pattern and AmerisourceBergen’s strong fundamentals, active investors can open long trades above USD 73.7. The downside potential is limited and the timing seems perfect to benefit from a technical rebound.
The main goal will be fixed at USD 80.
However, a bearish trend would regain the upper hand if the security crosses USD 73.65.
Cencora, Inc. specializes in distributing pharmaceutical products. The group supplies generic and name-brand medications, OTC healthcare products, and home care equipment to healthcare providers (hospitals, clinics, pharmacies, physicians, etc.) located in the United States and Canada. The group also offers services to physicians and patients (support and reimbursement assistance services, prescription management services, nursing services, home injection and perfusion services, etc.).
CENCORA, INC. 
