The Greedy Trader Weekly Analysis
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Daily W%R:> 90
Number of records: 10
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 5/31/2024 -
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AMCOR LTD ADR (AMCR) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance lineTrend resistance at 10.46
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageStochastic signal line moved above oversold areaPrice is near the Fibonacci 61.8% retracement level
Move cursor over the icon to see details.

It was a first positive week for the AMCOR LTD ADR (AMCR). During the week, the AMCR gained 0.23 points, or 2.31%, and closed at 10.17 on Friday, May 31, 2024. Weekly volume was 100% above 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 (10.46). 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 (8.94) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 technical indicators are neutral.

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 downtrend had started on May 13, 2024 at 10.51 and reached 9.65 on May 29, 2024. AMCR lost 0.86 points, or 8.18%, in 16 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See AMCR daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 below its signal line since May 20, 2024. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.07
Williams' Percentage Range (W%R) 73.30
Lane's Stochastic (%D-Slow) 28.69
Greed/Fear Indicator (GFI) 32.83
Moving Average Converg./Diverg. (MACD) 0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.61
Williams' Percentage Range (W%R) 36.40
Lane's Stochastic (%D-Slow) 76.09
Greed/Fear Indicator (GFI) 65.79
Moving Average Converg./Diverg. (MACD) -0.02
Trading Signals
Description Value Chart
Yearly Trendline Resistance 10.46
Upper Bollinger Band 10.33
Weekly Stochastic Crossing 10.21
Price 10.17
20 Day Moving Average 10.13
Daily Stochastic Crossing 9.82
Parabolic System 9.64
50 Day Moving Average 9.55
Lower Bollinger Band 9.53
Quarterly Trendline Resistance 9.30
Quarterly Trendline Support 8.94
Sector and Industry
Description Name Rank
Sector Materials 11
Industry Paper Packaging 111
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 10.51
High Date 05/13/2024
Low 9.65
Low Date 05/29/2024
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 Uptrend
Status
Resistance
Support
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 9.30
Support 8.94
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 10.46
Support 7.04
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.