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Daily MACD Divergence:Bullish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 5/17/2024 -
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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 10.51
Daily :Relative Strength Index is overboughtWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaThe price has risen above the Parabolic SARThe period of high volatility of the stock price
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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 -0.87%, and closed at 10.27 on Friday, May 17, 2024. Weekly volume was -6% 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 (10.51). 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 10.51 on May 13, 2024. AMCR gained -2.06 points, or -24.38%, in 29 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (8.91) 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. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 10.51 on May 13, 2024. AMCR gained -1.71 points, or -19.43%, in 27 days. The price is now at the 14.04% retracement level.

Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range is 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. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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.

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.

The distance between the Bollinger Bands is 194.50% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.89
Overbought
Williams' Percentage Range (W%R) 6.80
Strong Overbought
Lane's Stochastic (%D-Slow) 73.96
Greed/Fear Indicator (GFI) 83.67
Overbought
Moving Average Converg./Diverg. (MACD) 0.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.57
Williams' Percentage Range (W%R) 6.40
Strong Overbought
Lane's Stochastic (%D-Slow) 58.73
Greed/Fear Indicator (GFI) 70.30
Moving Average Converg./Diverg. (MACD) -0.08
Trading Signals
Description Value Chart
Upper Bollinger Band 11.09
Yearly Trendline Resistance 10.51
Daily Stochastic Crossing 10.38
Price 10.27
Parabolic System 10.17
Weekly Stochastic Crossing 10.00
Monthly Trendline Resistance 9.92
20 Day Moving Average 9.78
50 Day Moving Average 9.45
Quarterly Trendline Resistance 9.35
Quarterly Trendline Support 8.91
Monthly Trendline Support 8.81
Lower Bollinger Band 8.71
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 103
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 10.51
High Date 05/13/2024
Low 10.22
Low Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.80
Low Date 04/16/2024
High 10.51
High Date 05/13/2024
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 10.51
High Date 05/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 9.35
Support 8.91
Low 8.45
Low Date 10/23/2023
High 10.51
High Date 05/13/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 10.51
Support 7.12
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.