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 that AMC is about to continue pushing higher with the 3-grey wave of (3)-orange.

ASX: AMC Elliott Wave technical analysis  

Function: Major trend (Intermediate degree, orange).

Mode: Motive.

Structure: Impulse.

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

Details: The short-term outlook shows that wave ((ii))-navy looks like it has just ended and wave ((iii))-navy is opening to push higher.

Invalidation point: 14.79.

AMC

ASX: AMC four-hour chart analysis

Function: Major trend (Minuette degree, orange).

Mode: Motive.

Structure: Impulse.

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

Details: The shorter-term outlook shows that wave (i)-orange is unfolding and will soon complete, followed by wave (ii)-orange opening to push slightly lower, and then wave (iii) -orange back to push higher, aiming for a target at around 16.13.

Invalidation point: 14.79.

Chart

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.

Amcor Plc Elliott Wave technical forecast [Video]

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