ASX: AMCOR PLC – AMC Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)

Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with AMCOR PLC – AMC. We see AMC pushing higher with wave (iii)-orange of wave ((iii))-navy.

ASX: AMCOR PLC – AMC 1D Chart (Semilog Scale) Analysis

Function: Major trend (Intermediate degree)

Mode: Motive

Structure: Impulse

Position: Wave (iii)-orange of Wave ((iii))-navy of Wave 3-grey of Wave (3)-orange

Details: Since the low at 15.53 wave ((iii))-navy is unfolding to push higher, aiming for targets as high as 20.00, it has itself subdivided into waves (i),(ii)-orange and they have ended, now it is time for wave (iii)-orange to unfold to push higher.

Invalidation point: 15.95

(Click on image to enlarge)

ASX: AMCOR PLC – AMC 4-Hour Chart Analysis

Function: Major trend (Minute degree, navy)

Mode: Motive

Structure: Impulse

Position: Wave iii-grey of Wave (iii)-orange of Wave ((iii))-navy

Details: Wave (ii)-orange ended at the low of 15.95 as a Zigzag labeled a,b,c-grey. And wave (iii)-orange is probably unfolding to push higher, targeting the highs of 18.00 - 20.00. It is subdividing into wave i-grey and wave ii-grey, and is probably over, and now wave iii-grey is unfolding to push higher.

Invalidation point: 16.10

(Click on image to enlarge)

Conclusion:

Our analysis, forecast of contextual trends, and short-term outlook for ASX: AMCOR PLC – AMC aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.

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