AMCOR bounced off its old support area quite well and is now coming up to its first resistance test area. Indicators look good for now and demand is there for a push through with 547 buyers for 453,396 units vs 295 sellers for 200,714 units. Might be worth a watch.
Amcor Limited is a packaging company. The Company's segments include Amcor Rigid Plastics, Amcor...
Highlights:
• GAAP net income of $430.2 million; Cash flow from operating activities of $776.1 million;
• Adjusted EBIT of $1,075.4 million, up 5.7% in constant currency terms;
• Adjusted net income of $729.5 million, up 9.0% in constant currency terms;
• Adjusted cash flow after dividends of $192.7 million;
• 2019 total dividend increased to 45.5 US...
AMC dropped significantly in the last few days but it appears that there is a sign of the recovery. The price has moved up above Ichimoku cloud and SMA 100 line. Stochastic at oversold zone. Wait to see the how the price moves in the next few days for the potential "BUY" with target at the last previous high.
AMC Looks to be topping out at the moment and is worth shorting. Short term target is $14. Medium term target is $13.
I have done no fundamental analysis on this stock and am basing the trade purely on the RENKO Traditional 0.50 chart.
ASX:AMC
uptrend ...correction has received to some resistance as 50-61.8 fib ret and 100 fib extention and an ascending trend line ....enter to buy position with a small sl
