New York, March 8th (TradersHuddle.com) - Shares of AmerisourceBergen Corporation (NYSE:ABC) are trading very close to calculated resistance at $28.5 with the current price action closing at just $28.41 placing the stock near levels that make it difficult to buy.

AmerisourceBergen Corporation (NYSE:ABC) is a pharmaceutical services company. The Company distributes pharmaceutical products and services. AmerisourceBergen distributes an offering of brand name and generic pharmaceuticals, over-the-counter healthcare products, and home healthcare supplies and equipment. AmerisourceBergen also provides pharmacy management, staffing and other consulting services.

AmerisourceBergen's current stock range is defined by current calculated support defined at $26.65 and by the resistance level at $28.5, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for AmerisourceBergen , as the stock is well above support, however, as the stock pulls back towards $26.65 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $28.5 then traders will get an opportunity to enter AmerisourceBergen stock by establishing a position as the stock moves to a higher range.