Elliott Wave Technical Forecast : Amcor Plc

In today’s Elliott Wave update for the Australian Stock Exchange (ASX), we focus on AMCOR PLC – AMC. Based on our wave analysis, AMC has just completed a second corrective wave—a Double Zigzag pattern. This setup indicates that a new third wave, which is a motive wave, is now initiating. This wave opens the potential for a sustained upward movement. Below, we explore the forecasted trend structure for AMC.

Technical Analysis Summary – 1D Chart (Semilog Scale)

Function: Major trend (Intermediate degree, orange)
Mode: Motive
Structure: Impulse
Wave Position: Wave (3) – orange

Insights:

Wave (1) – orange has already been completed.
Recently, wave (2) – orange finished forming as a Double Zigzag (W-X-Y, grey).
This suggests that Wave (3) – orange is beginning and gaining momentum for a bullish move.

Invalidation Level: 14.11

AMCOR PLC – AMC | Elliott Wave Technical Analysis – TradingLounge (4-Hour Chart)

4-Hour Chart Breakdown

Function: Major trend (Minor degree, grey)
Mode: Motive
Structure: Impulse
Wave Position: Wave i)) – navy of Wave 3 – grey of Wave 3) – orange

Details:

The Y – grey wave of wave 2) – orange has finalized as a Zigzag, confirming the end of the corrective phase.
Post 14.11, the 1, 2, 3 – grey waves are unfolding upward, confirming bullish continuation.
Current wave: 3 – grey is expanding via i)) – navy to v)) – navy, indicating a strong push upward.

Invalidation Level: 14.44

Conclusion

This analysis outlines key trends and forecasts for AMCOR PLC – AMC, offering detailed wave counts and validation levels to strengthen trader confidence. With the completion of corrective structures, AMC appears poised for a significant upward move. Our technical outlook blends long-term context with actionable short-term targets, ensuring both clarity and professional insight.

Analyst: Hua (Shane) Cuong, CEWA-M

More By This Author:

Elliott Wave Technical Analysis: Uniswap Crypto Price News For Thursday, April 24
Elliott Wave Update: DAX, FTSE, ASX Lead Rally As S&P 500 & Nasdaq 100 Enter Wave 5
Unlocking ASX Trading Success: Car Group Limited - Wednesday, April 23