Amcor PLC Stock Forecast
Amcor PLC stock price up 0.89% on Wednesday
(Updated on Apr 24, 2024)
The Amcor PLC stock price gained 0.89% on the last trading day (Wednesday, 24th Apr 2024), rising from $8.98 to $9.06. During the last trading day the stock fluctuated 1.57% from a day low at $8.92 to a day high of $9.06. The price has risen in 5 of the last 10 days but is still down by -0.55% for this period. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately $39.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.54% during the next 3 months and, with a 90% probability hold a price between $8.47 and $9.17 at the end of this 3-month period.
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AMCR Signals & Forecast
There are mixed signals in the stock today. The Amcor PLC stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.22. On a fall, the stock will find some support from the short-term average at $8.94. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.60%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 7.13% to $9.71 within 33 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Amcor PLC stock
Amcor PLC finds support from accumulated volume at $8.95 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.140 (1.57%) between high and low. For the last week, the stock has had daily average volatility of 1.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMCR) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Amcor PLC to open at $9.01, and during the day (based on 14 day Average True Range), to move between $8.90 and $9.22, which gives a possible trading interval of +/-$0.161 (+/-1.78%) up or down from last closing price. If Amcor PLC takes out the full calculated possible swing range there will be an estimated 3.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.17 (1.21%) than the support at $8.95 (1.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Amcor PLC will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.170. We will update the financials statements for Amcor PLC, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.26% in the first trading day after earnings release.
Is Amcor PLC stock A Buy?
Amcor PLC holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.369 Sell Candidate Unchanged
Predicted Opening Price for Amcor PLC of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $9.01 ( 0.515%) | $9.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMCR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.15 | 1.03 % | |
| R2 | 9.10 | 0.440 % | ||
| R1 | 9.07 | 0.0752 % | ||
| Current price: | 9.06 | |||
| Support | S1 | 8.96 | -1.11 % | |
| S2 | 8.93 | -1.47 % | ||
| S3 | 8.87 | -2.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.38 | 3.53 % | |
| R2 | 9.18 | 1.32 % | ||
| R1 | 9.17 | 1.21 % | ||
| Current price | 9.06 | |||
| Support | S1 | 8.95 | -1.21% | |
| S2 | 8.88 | -1.99% | ||
| S3 | 8.83 | -2.54% |
AMCR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Feb 27, 2024 | Mar 19, 2024 | $0.125 | 1.33% |
| 2 | Oct 31, 2023 | Nov 21, 2023 | Dec 12, 2023 | $0.130 | 1.38% |
| 3 | Aug 16, 2023 | Sep 06, 2023 | Sep 27, 2023 | $0.123 | 1.36% |
| 4 | May 02, 2023 | May 23, 2023 | Jun 20, 2023 | $0.123 | 1.21% |
| 5 | Feb 07, 2023 | Feb 28, 2023 | Mar 21, 2023 | $0.123 | 1.12% |
FAQ
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