Amcor PLC Elliott Wave technical forecast [Video]

ASX: AMC Elliott Elliott Wave technical analysis

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: AMC one-day 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.

ASX: AMC four-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.

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]