What’s Happening to the Share Price of Amcor Ltd?

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What does AMCOR Ltd do?

Amcor Ltd [ASX:AMC] is one of the world’s leading packaging companies, supplying packaging products for the food, beverage, healthcare, home, personal care and tobacco industries.
This is a company with an extensive global footprint. Today Amcor has more than 27,000 employees, working together across more than 180 sites in over 40 countries across the world, generating US$9.5 billion in sales.
That’s all well, but what is the chart telling you?

What does the chart look like?

I find it helpful to bring up a chart. Here’s the weekly chart of AMC.

TCH

Source: STEX

This stock went sideways for most of 2014, before breaking into all time new highs late October.

What now for AMC Shares?

The market will in fact tell you what’s next for this company. A break below the recent weekly low or above into all-time new highs will tell us what’s next for this company.
The half yearly report released late February was very positive, and the stock has since continued higher.
You don’t need to do all the analysis; the market somehow just seems to know. Whilst the previous weekly low holds, the trend continues to be up.
You can get further insights about reading markets here.

Cheers,
Terence Duffy,
Research Analyst, Cycles, Trends and Forecasts

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