AMCOR PLC (AMC) Elliott Wave Technical Analysis
ASX Stock Forecast, Elliott Wave Count & Trend Insights
Greetings,
Today’s Elliott Wave analysis for AMCOR PLC (ASX: AMC) highlights a key structural shift in price action. Our updated wave count suggests that AMC has completed a corrective phase—specifically a Double Zigzag pattern—marking the end of wave (2). This positions the stock at the start of a bullish third wave, setting the stage for a potential sustained rally. Below is our detailed technical breakdown.
AMCOR PLC (AMC) Elliott Wave Analysis – TradingLounge 1D Chart
Technical Analysis Summary – 1D Chart (Semilog Scale)
Function: Major Trend (Intermediate Degree, Orange)
Mode: Motive
Structure: Impulse
Wave Position: Wave (3) – Orange
Elliott Wave Insights:
- Wave (1) – Orange has already been completed.
- Wave (2) – Orange finalised as a Double Zigzag (W-X-Y, Grey), marking the end of correction.
- Wave (3) – Orange is now initiating, suggesting bullish momentum is gaining strength.
Key Invalidation Level: 14.11 AUD
AMCOR PLC – AMC Elliott Wave Analysis – TradingLounge (4-Hour Chart)
4-Hour Chart Breakdown
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Wave Position: Wave i)) – Navy of Wave 3 – Grey of Wave (3) – Orange
Detailed Outlook:
- The Y – Grey wave of Wave (2) – Orange concluded as a Zigzag, confirming the end of the correction.
- Post-14.11 AUD, upward structure unfolds through waves 1, 2, and 3 – Grey, confirming trend reversal.
- Current development of Wave 3 – Grey is expanding through subwaves i)) to v)) – Navy, highlighting strong bullish momentum.
Key Invalidation Level: 14.44 AUD
Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).
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Conclusion
This Elliott Wave analysis for AMCOR PLC (ASX: AMC) reveals a bullish setup following the completion of corrective wave structures. With wave (3) now in play, traders can anticipate potential upward price action. This technical outlook combines both long-term and short-term Elliott Wave forecasts, offering high-probability trade setups and precise validation levels.