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Uptrend ExhaustionArchive
- 1/3/2025 -
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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 dropped -0.11 points, or -1.17%, and closed at 9.33 on Friday, January 3, 2025. Weekly volume was 8% 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 uptrend support line (9.74) 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 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 9.29 on December 30, 2024. AMCR lost 2.19 points, or 19.08%, in 13 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 7.82 and resistance is at 10.30. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AMCR weekly technical indicators chart]
Weekly Relative Strength Index is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly 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 links to access Relative Strength Index and Williams' Percentage Range help.
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 9.29 on December 30, 2024. AMCR lost 1.41 points, or 13.18%, in 31 days. Price is near the trend low.
 Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since December 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.
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