AMC Elliott Wave technical forecast [Video]

AMC Elliott Wave technical analysis

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.

• 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

AMC Elliott Wave technical analysis

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.

AMC Elliott Wave technical analysis [Video]