- Technical Market Commentary -

June 30, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of AmerisourceBergen Inc (NYSE: ABC) are holding up exceedingly well in a very weak stock market. With the S&P 500 Index (SPX) correcting some 12% over the past two months, shares of AmerisourceBergen lost only about 5%, peak to trough, at its worst. On Monday, June 28, with the stock market again closing on the downside, AmerisourceBergen posted a 2% gain and also broke above a strong resistance level at $32.33 a share.

The close above resistance forecasts a continued advance to the next resistance level. That means AmerisourceBergen should continue its advance to $37.48, a 15% gain, before substantial resistance is again reached.During times when the markets correct, share of companies like AmerisourceBergen are insurance against losses. And when the market turns around, shares of AmerisourceBergen will outperform those of most of the beaten down companies.

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Disclosure: The Fibtimer.com Stock Timing Strategy holds a position in AmerisourceBergen.

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