The Greedy Trader Weekly Analysis
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Daily RSI:< 20
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/15/2024 -
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AMCOR LTD ADR (AMCR) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic is overboughtPrice has crossed above the 50 Day Moving Average
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It was a second consecutive positive week for the AMCOR LTD ADR (AMCR). During the week, the AMCR gained 0.12 points, or 1.28%, and closed at 9.48 on Friday, March 15, 2024. AMCR was trading at average weekly trading volume.

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 trend support level is at 7.51 and resistance is at 10.79. 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 long-term trend.

Medium-term trend: [See AMCR medium-term trend chart]
A medium-term downtrend had started on August 16, 2022 at 13.37 and reached 8.45 on October 23, 2023. AMCR lost 4.92 points, or 36.80%, in 61 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 7.73 and resistance is at 10.41. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See AMCR weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since March 1, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 February 13, 2024 at 8.78 and reached 9.55 on March 13, 2024. AMCR gained -0.77 points, or -8.77%, in 29 days. The price is now at the 9.09% retracement level.

Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since February 21, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.41
Williams' Percentage Range (W%R) 27.10
Lane's Stochastic (%D-Slow) 87.17
Overbought
Greed/Fear Indicator (GFI) 74.81
Moving Average Converg./Diverg. (MACD) 0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.60
Williams' Percentage Range (W%R) 40.50
Lane's Stochastic (%D-Slow) 35.32
Greed/Fear Indicator (GFI) 47.59
Moving Average Converg./Diverg. (MACD) -0.14
Trading Signals
Description Value Chart
Yearly Trendline Resistance 10.79
Quarterly Trendline Resistance 10.41
Upper Bollinger Band 9.68
Daily Stochastic Crossing 9.49
Price 9.48
50 Day Moving Average 9.35
20 Day Moving Average 9.24
Parabolic System 9.23
Weekly Stochastic Crossing 9.12
Lower Bollinger Band 8.94
Quarterly Trendline Support 7.73
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 70
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 8.78
Low Date 02/13/2024
High 9.55
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 9.98
High Date 12/14/2023
Low 8.78
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.45
Low Date 10/23/2023
High 9.98
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 10.41
Support 7.73
High 13.37
High Date 08/16/2022
Low 8.45
Low Date 10/23/2023
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 10.79
Support 7.51
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.