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- 1 AMCR stock price slid 0.31% in the last trading session and is currently trading at $9.69.
- 2 Amcor Plc (NYSE: AMCR) has announced the acquisition of a scalable flexible packaging plant in the high-growth Indian market
AMCR stock price has been in a correction phase since June 2022 and declining by forming lower highs and lower lows. The stock price has lost nearly 14.5% of its value over the past 6 months and wiped out nearly 7% in the past 3 months.
Currently, the price is consolidating showing an indecisive trend and waiting for the quarterly results which are to be disclosed on 23rd August. The Analysts estimate the revenue for the 2nd quarter to be 3.78 Billion and the earnings estimated is 0.182.
The price may show bullishness to change its trend if the earning outperforms the analyst’s expectations. However, if the earnings did not meet the expectation of the analysts then the price may resume its ongoing trend.
Amcor Plc (NYSE: AMCR) is a company that creates responsible packaging for various products, such as food, beverage, medicine, and personal care. It uses flexible and rigid materials, as well as specialty cartons and closures to help its customers protect their products and make their brands stand out.
AMCR stock option-chain analysis states that the current implied volatility in the market is 29.67% with an increment of 4.2% in the last trading session. The at-the-money strike price has 88 open contracts on the put side and 14 open contracts on the call side indicating the dominance of buyers at the current level. The PUT/CALL ratio is 0.47 indicating that call writers dominate the market as per the data.
AMCR Stock Price May Show A Trend Change If Results Outperform The Expectations
The AMCR stock price currently trades at $9.69 and consolidates in a range near the swing low.
The short-term trend is indecisive as per the analysts until the price maintains itself in the range. However, the breakout or breakdown of the results may experience some trending moves as per the daily chart.
Also, the quarterly results are yet to be disclosed which may lead to a reversal and the price may experience buying volume to enter the market if the results outperform the expectations.
The long-term outlook of the price trend is neutral to bearish until the price is trading below the 200 EMA and has been following negative price action.
The Technical Indicators are Showing Weakness On the Daily Charts
The daily AMCR stock price chart shows that the price is trading below the 50 and 200 EMA indicating the dominance of the sellers at upper levels. The overall Technical Opinion rating including RSI and MACD is signaling an 80% sell with a strengthening short-term outlook on maintaining the current direction.
Conclusion
AMCR Stock price prediction concludes that the price has been falling since June 2022 and is now consolidating near the swing low. The price is waiting for the quarterly results on 23rd August, which may affect the trend. The analysts expect the revenue to be 3.78 Billion and the earnings to be 0.182 per share. The price may rise if the results are better than expected, or continue to fall if they are worse. The long-term trend is neutral to bearish below the 200 EMA.
Technical Levels
- Support levels: $9.63 and $9.41.
- Resistance levels: $9.91 and $10.36.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
