AMC - Amcor Limited

[imaginator]

i'm outta short amc for now, and getting into long. looks strong eventho the All Ords dropped 45 points, it didnt budge and instead charged ahead when All Ords starts to recover.

 

[swingstar]

Tomorrow will be a key day for my trade. Conditions will likely be met whether to stay in or out, but right now I think it's too early to say where it's going.

 

[imaginator]

Swingstar,
I agree, it could be just another resistance against the trend, because in the morning the volume was quite low.

I'm also playing AWC at the moment, it seems very strong today. Went from 6.22 to 6.7! But tomorrow for AWC I will also see if it is a real uptrend.

Do u put a stop loss usually? How do u deal with stop loss for something like AMC, where the price shifts up and down quite a bit during the day? Today I placed a long at 7.10, and when it went up to 7.14, I put a stop loss at 7.09. Later my stop loss was triggered as it came down to 7.09, but that was the lowest it went and went up to 7.12-7.13 again.
I hate it when this happens, stop loss getting sweeped by the edge of the fluctuation.

Same goes with AWC, I bought in the morning at 6.30. It went up to 6.45, so I was happy and put a stop loss at 6.39. Bloddyheck it came down to 6.39 and swept it, and then shot up to 6.5, and then later to the range of 6.60+.

 

[swingstar]

Do u put a stop loss usually? How do u deal with stop loss for something like AMC, where the price shifts up and down quite a bit during the day? Today I placed a long at 7.10, and when it went up to 7.14, I put a stop loss at 7.09. Later my stop loss was triggered as it came down to 7.09, but that was the lowest it went and went up to 7.12-7.13 again.
I hate it when this happens, stop loss getting sweeped by the edge of the fluctuation.

I trade options mostly, so use mental stops. I also only get hourly updates by choice, which helps in ignoring intraday volatility.

 

[imaginator]

swingstar,
it just went to 7.17, is it time we revert our position to uptrend?

geez i dont know when is the Aust and US market is gonna come down. USA has been having a lower close for 5 days, but just by a few points.

 

[swingstar]

swingstar,
it just went to 7.17, is it time we revert our position to uptrend?

There's nothing there to support a long trade for me, but I'll be waiting until today's close on whether to exit or not. I'm still bearish, but not at the cost of risking anything now.

 

[Dutchy3]

For those that SMSF ths one needs dusting off.

The stuffing around of the last few years is drawing to a close

Within a short (weeks) period of time this one will move through 7.6 - 7.70 and beyond ...

 

[Dutchy3]

A month down the track and todays action is encouraging ... not the end of the week albeit .... still steady and accumulation from this point should now occur

 

[imaginator]

whats happening to AMC? Its been doing nothing but down down down. And now its broken the support of around 6.9, today only 6.75. Fed up with this bugger.

Can anyone tell anything from the company or the chart?

 

[Dowdy]

Anyone see the charts? Going down alot

Does anyone know why this stock has been hammered in the last couple days?

 

[rcm617]

Anyone see the charts? Going down alot

Does anyone know why this stock has been hammered in the last couple days?

Talk around they might be buying part of Rio's aluminium packaging buisness. Valuation apparently around the $6 billion mark for the whole lot so might mean a bit of money having to be raised.

 

[dan-o]

strong rumours of a raising in the next couple weeks for this one, to buy rio's alcan assets... what do people think of this one??

 

[skyQuake]

strong rumours of a raising in the next couple weeks for this one, to buy rio's alcan assets... what do people think of this one??

Gonna be a rights issue this one. Sitting on some resistance at the 6.20ish area, could get a bit cheaper before the raising.

 

[dan-o]

a rumoured 4 for 9 rights issue at about $4.30, sounds good to me. over a $1 discount on current price. I only hope we can apply for additional shares...

 

[dan-o]

Anyone a holder and planning to take up their entitlement? Will you be applying for more shares on top of the entitlement??

 

[skyQuake]

Holding 1 share and would like to apply for lots and lots
Hopefully some people won't take up their entitlements

 

[Kuri]

Does anybody know if there is still time to get on the register to participate in the SPP? There does not seem to be a formal announcement on ASX on this issue yet.

 

[dan-o]

Kuri, you need to be on the register by tonight, 20th August, which means that you needed to buy last friday. unfortunately it's too late
it doesnt sound like many people hold AMC judging by the lack of response on this forum. This offer is a great way to make money i reckon... buy as many as possible, sell some to lock in profits...

 

[mybling]

I'm a newbie and I hold a small parcel of AMC shares. I have received the SPP but it states non-renounceable shares??
Does that mean I cannot sell my shares on the ASX when the SPP shares go live?

 

[dan-o]

it means you cannot sell the rights to buy the shares at $4.30 (as i understand it) you can buy the shares and then sell them once you get them if you desire...
most shares seem to be non-renouncable from what ive noticed. rio is the only exception i can think of where shareholders were able to sell the rights...