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- 9/13/2024 -
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AMCOR LTD ADR (AMCR) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the AMCOR LTD ADR (AMCR). During the week, the AMCR gave back -0.09 points, or -0.81%, and closed at 10.99 on Friday, September 13, 2024. Weekly volume was 18% above average.
AMCR is a member of Materials Sector. Materials is the second most oversold 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 downtrend resistance line (6.40) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.
 Medium-term trend: [See AMCR medium-term trend chart]
A medium-term uptrend had started on July 5, 2024 at 9.44 and reached 11.45 on August 30, 2024. AMCR gained -2.01 points, or -21.29%, in 8 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (11.43) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AMCR may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See AMCR weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See AMCR short-term trend chart]
A short-term downtrend had started on August 30, 2024 at 11.45 and reached 10.81 on September 11, 2024. AMCR lost 0.64 points, or 5.59%, in 12 days. The price is now at the 28.12% retracement level.
 Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
The daily MACD line is below its signal line since September 5, 2024. This is an indication that the short-term trend is down.
The price is close to the moving average in the center of the Bollinger Bands. 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.
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