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Downtrend Broken Resist.Archive
- 12/13/2024 -
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AMCOR LTD ADR (AMCR) Technical Analysis
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| Summary:
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| | It was the negative week for the AMCOR LTD ADR (AMCR). During the week, the AMCR dropped -0.28 points, or -2.75%, and closed at 9.90 on Friday, December 13, 2024. Weekly volume was 38% above average.
AMCR is a member of Materials Sector. Materials is the 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 uptrend had started on October 23, 2023 at 8.45 and reached 11.48 on September 27, 2024. AMCR gained -3.03 points, or -35.86%, in 48 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 9.68 and resistance is at 11.89. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See AMCR medium-term trend chart]
A medium-term downtrend had started on September 27, 2024 at 11.48 and reached 9.40 on November 19, 2024. AMCR lost 2.08 points, or 18.12%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See AMCR weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 November 29, 2024 at 10.70 and reached 9.85 on December 13, 2024. AMCR lost 0.85 points, or 7.94%, in 14 days. The price is now at the 5.88% retracement level.
 Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price 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.
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