The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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AMCOR LTD ADR (AMCR) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtTrend resistance at 10.55
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBearish Deliberation Candlestick20 Day Moving Average has crossed above the 50 Day Moving AverageThe Bollinger Bands are historically far apart
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It was a fourth consecutive positive week for the AMCOR LTD ADR (AMCR). During the week, the AMCR gained 0.34 points, or 3.39%, and closed at 10.36 on Friday, May 10, 2024. Weekly volume was -12% below average.

AMCR is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AMCR long-term trend chart]
A long-term downtrend had started on June 6, 2022 at 13.61 and reached 8.45 on October 23, 2023. AMCR lost 5.16 points, or 37.91%, in 72 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (10.55). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See AMCR medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 8.45 and reached 10.41 on May 10, 2024. AMCR gained -1.96 points, or -23.20%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (8.90) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AMCR weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 26, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AMCR short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 8.80 and reached 10.41 on May 10, 2024. AMCR gained -1.61 points, or -18.30%, in 24 days. Price is near the trend high.

Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since April 25, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.

The distance between the Bollinger Bands (22.39%) is close to one year high (13.98%). It is 193.01% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See AMCR candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.56
Overbought
Williams' Percentage Range (W%R) 3.70
Strong Overbought
Lane's Stochastic (%D-Slow) 97.77
Strong Overbought
Greed/Fear Indicator (GFI) 93.20
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.00
Williams' Percentage Range (W%R) 3.70
Strong Overbought
Lane's Stochastic (%D-Slow) 49.38
Greed/Fear Indicator (GFI) 69.17
Moving Average Converg./Diverg. (MACD) -0.10
Trading Signals
Description Value Chart
Upper Bollinger Band 10.78
Yearly Trendline Resistance 10.55
Daily Stochastic Crossing 10.38
Price 10.36
Monthly Trendline Resistance 9.92
Weekly Stochastic Crossing 9.62
Parabolic System 9.60
20 Day Moving Average 9.41
Quarterly Trendline Resistance 9.38
50 Day Moving Average 9.34
Quarterly Trendline Support 8.90
Monthly Trendline Support 8.81
Lower Bollinger Band 8.48
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 96
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 8.90
Low Date 04/30/2024
High 10.41
High Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.80
Low Date 04/16/2024
High 10.41
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Broken Resistance
Resistance 9.92
Support 8.81
Low 8.78
Low Date 02/13/2024
High 10.41
High Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 9.38
Support 8.90
Low 8.45
Low Date 10/23/2023
High 10.41
High Date 05/10/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 10.55
Support 7.16
High 13.61
High Date 06/06/2022
Low 8.45
Low Date 10/23/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.