AMCOR PLC – AMC Elliott Wave Technical Analysis | TradingLounge

Introduction:
Today’s Elliott Wave update focuses on AMCOR PLC (ASX: AMC). The stock has recently finished its second corrective wave — identified as a Double Zigzag. This formation indicates the start of a third wave, which is a motive wave, signaling potential upward momentum. This analysis will examine the expected trend and the detailed structure behind this forecasted bullish move.

AMCOR PLC – AMC | Elliott Wave Technical Analysis (1D Chart – Semilog Scale)

Function: Major Trend (Intermediate degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave (3) – orange

Details:

Wave (1) – orange: Completed earlier.

Wave (2) – orange: Recently ended as a Double Zigzag (W, X, Y – grey).

This suggests that Wave (3) – orange is now underway and gaining momentum.

Invalidation Point: 14.11

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

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

Details:

Wave Y – grey of Wave (2) – orange has completed as a Zigzag, confirming the end of the correction.

The chart shows that from the 14.11 level, waves 1, 2, and 3 – grey are forming.

Currently, Wave 3 – grey is developing with sub-waves i)) to v)) – navy.

The trend suggests continued upside momentum.

Invalidation Point: 14.11

Conclusion:
This analysis of AMCOR PLC – AMC presents a clear outlook based on wave structure and current price behavior. By identifying key validation/invalidation points, we enhance the reliability of this forecast. Traders can use these insights to align with market movements and improve trading decisions. Our goal is to deliver a professional and objective view of market dynamics.

Technical Analyst: Hua (Shane) Cuong, CEWA-M

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