AMC - Amcor Limited

[dan-o]

Not much action on AMC. Anyone apply for extra shares? Any inkling of what ratio of the extras might be granted??

 

[dan-o]

If anyone is interested, the deal is that you will get 15 times your original allocation if you applied for extra shares.
So if you were entitled to 100 and applied for 2000, you'll get 1500. If you only had 1 share via IB then i imagine you'll get 15 shares, so not really worth while...

Probably a pretty fair way to allocate extra shares, based on original entitlement...

 

[Gringotts Bank]

Potential short. See chart.

 

[piggybank]

The last time the price broke down through the 250 day EMA was a couple of years ago. It looks like it as just dipped its toe(s) in the hot water again and possibly making a run up again...



It is up nearly 10% already this week and today's action saw it break into BLUE SKY. The reason for the jump is from yesterdays release to the market, that can be read by clicking on the link below:-

http://www.stocknessmonster.com/news-item?S=AMC&E=ASX&N=410081

 

[So_Cynical]

Im always impressed how the trends just seem to line up, the 1 year chart shows multiplue bottoms at $14, the 5 year chart a steady even predictable up trend.

 

[Triathlete]

Amcor might be getting close to short???
Below is my current analysis on the monthly chart.
This is for educational purpose only and do not hold any position yet....
Anyone following the stock??

Strategic comment from Lincoln Indicators...
AMC exhibits unacceptable levels of financial risk due to a below benchmark Financial Health score. Investors need to be aware such companies pose risks and warrant a speculative investment only. Any prospective investment should be managed with tight stop losses implemented.

 

[Triathlete]

Thought I might take another look at AMC since it has broken through the monthly trendline now....Using EW we could be on a move lower with either a wave 4 or a wave A.
This also lines up with a head and shoulders weekly pattern as well on the second chart...
Will be looking for a move down to $12.28 at this stage...

Strategic comment from Lincoln stock doctor:

AMC exhibits unacceptable levels of financial risk due to a below benchmark Financial Health score. Investors need to be aware such companies pose risks and warrant a speculative investment only. Any prospective investment should be managed with tight stop losses implemented.

Consensus price target $16.08

 

[peter2]

AMC presents an attractive RR opportunity. It's not a stock that I trade because I consider it a value rather than a growth company. Price tends to go up and down with the economic outlook.

Monthly: Trend UP. Price has been in a long abc corrective pattern after the impulsive move up early 2016. It looks like the corrective move is complete which would imply that the next move will be an impulsive higher.
Weekly: Trend DOWN. Reversal setup (123L) with a higher low.
Daily: Price has gone higher than the break-out line (14.15), but it may not be too late. Price may trade at 14.15 again soon.

The initial target is the old highs at 16.50 providing a reasonable RR. Price is unlikely to spear straight to our target. It may take a year, because value stocks move slow and steady.

 

[Porper]

AMC presents an attractive RR opportunity. It's not a stock that I trade because I consider it a value rather than a growth company. Price tends to go up and down with the economic outlook.

Monthly: Trend UP. Price has been in a long abc corrective pattern after the impulsive move up early 2016. It looks like the corrective move is complete which would imply that the next move will be an impulsive higher.
Weekly: Trend DOWN. Reversal setup (123L) with a higher low.
Daily: Price has gone higher than the break-out line (14.15), but it may not be too late. Price may trade at 14.15 again soon.

The initial target is the old highs at 16.50 providing a reasonable RR. Price is unlikely to spear straight to our target. It may take a year, because value stocks move slow and steady.

View attachment 87963

Agree in that we can't get too carried away until all-time highs are breached. Price has been consolidating since early 2015 which is great if the next break is higher.

H&S pattern triggered advocating higher prices...up to short-term target. Then on to test those all-time highs.

I hold following the H&S pattern triggering. .

 

[kid hustlr]

AMC presents an attractive RR opportunity. It's not a stock that I trade because I consider it a value rather than a growth company. Price tends to go up and down with the economic outlook.

Monthly: Trend UP. Price has been in a long abc corrective pattern after the impulsive move up early 2016. It looks like the corrective move is complete which would imply that the next move will be an impulsive higher.
Weekly: Trend DOWN. Reversal setup (123L) with a higher low.
Daily: Price has gone higher than the break-out line (14.15), but it may not be too late. Price may trade at 14.15 again soon.

The initial target is the old highs at 16.50 providing a reasonable RR. Price is unlikely to spear straight to our target. It may take a year, because value stocks move slow and steady.

View attachment 87963

I've gone for the 'P2 style' trade here and bought a half parcel on open. The thinking here is:
- Price has retraced to prior support, uptrend still ok at this point.
- TMF is steadily rising
- Longer term trend is up

This is a little different for me as I would usually buy the break (either 14.15 or now 14.60). Plan is to add the other half above 14.60 if it trades there as per my usual reversal/basing break out type trade.

 

[tech/a]

I like Porpers head and shoulders target for a trade.
There are strong head winds at $15-16 From that
Weekly V Control bar.

 

[barney]

The thinking here is:
- Price has retraced to prior support, uptrend still ok at this point.
- TMF is steadily rising
- Longer term trend is up .

Hi Kid … Looks like a positive trade to me for what its worth (I trade Specs so my opinion should be taken with that (and salt) in mind lol) …..

Curious what your conceptual stop out price might be if things turn nasty? I'm thinking $13.59 would be my "I'm finished" price but even $13.70 would be asking questions?? How are you seeing it?

PS Did you end up trading NST a few months back when you correctly assessed it was value relative to the POG ??

 

[kid hustlr]

B,

Initially 13.50 below the congestion. I’ll tickle it up a bit now.

There’s been a handful of good stocks that have performed really well (sbm/evn/nst/sar) and whilst I had a bias towards them I’ve not much to show for it. Caught some of sbm on the way up, recently scratched an evn trade and rsg got me a few months back on a poor report.

I find mining stocks tricky in general for my style, I think a medium term trader would have done really well out of the coal/gold stocks over the last 9 months or so

 

[kid hustlr]

This was almost a good a trade!

Looks to be some type of M&A action which has killed the SP today.

 

[Triathlete]

Thought I might take another look at AMC since it has broken through the monthly trendline now....Using EW we could be on a move lower with either a wave 4 or a wave A.
This also lines up with a head and shoulders weekly pattern as well on the second chart...
Will be looking for a move down to $12.28 at this stage...

View attachment 86152



View attachment 86153

I always like to go back and look over previous predictions as is the case with Amcor which on Feb 4 2018 I had and we can now see if it has played out as the analysis had been worked out back then...and 8 months later we are all good this time around always good for the confidence.The problem I find though that they some time take a while or longer than you anticipate,this is usually not a problem for me when I place a trade on the long side but when playing the short side I do sometimes get frustrated waiting for things to happen need to work on that Psycology.

 

[rnr]

Since the 7th August 2018 when the directors of Amcor Limited (Amcor) and Bemis Company, Inc. (Bemis) announced a definitive agreement under which Amcor will acquire Bemis in an all-stock combination by way of a Scheme of Arrangement the share price has dropped to a low of $12.665 in late October 2018 to a recent high of $16.67 on May 22nd. Price closed at $16.18 on Friday which is $0.70 below the ATH. Will the ATH be taken out shortly or will it act as resistance for a while to come?

 

[rnr]

Will the unfilled gap, immediately below the last bar, reverse the downward price action by acting as support for AMC?
[I do not hold.]

 

[Garpal Gumnut]

Amcor just came up in a Yahoo Finance list of Top 30 stocks bought by US Hedge Funds In the last quarter. On the Nyse it trades as AMCR. The chart looks as if it may be bottoming, or carrying on down a bit further..

Has anyone got it on any lists or is following?

My info on packaging is decades out of date. I just thought I'd start looking today outside the present semi-conductor/AI and mining/RE/Oil booms which will will stop one day as they always do.

It has just gone ex-div and with the possibility of aliens tackling Amazon couriers or some other kerfuffle in the good old USA in
October not without the realms of possibility, it may be worthwhile an entry on disaster and green men running about the suburbs.

gg

 

[Dona Ferentes]

Has anyone got it on any lists or is following?

I outsource my investment in such large caps to LICs I hold, and haven't noticed it appearing as a 'must have' or Idea of the Month, for yonks. But then, they are boring and long-term, so Amcor is likely a hold for dividends, and keep an eye on it.

My info on packaging is decades out of date. I just thought I'd start looking today outside the present semi-conductor/AI and mining/RE/Oil booms which will stop one day..

i noticed this today .. some flesh?

Manufacturing & Packaging
“Health care has been growing really rapidly, pharmaceutical and medical sales have been very strong for the last 12 to 18 months. Pet care space has been strong… we've had soft sales in protein as consumers have down traded and purchased less fresh meat as an example. We've seen softer sales in some of the other items that are more impulse purchases, confectionery and snacks”
-Ron Delia, CEO, Amcor Plc
.
.
​

my 2 denarii worth

 

[eskys]

Hi GG, AMC happens to be one I sold this morning. Was an opportunistic buy ex dividend, so decided to exit because I held too many stocks up until today (had to reduce some risks) Looking back, I have no data on Amcor at all....opportunistic one alright, a dart throw that worked out ok.

I won't buy back today (need to look at the shortman and check out the percentage shorted, but long term should be ok, I think)

Going off thread for a sec....saw a post of yours going on hols. Singapore Airlines now flies to Brussels (my favourite Airline) While there, visit Comar for me....love it.

Singapore Airlines will be launching four weekly direct flights between Singapore and Brussels, Belgium from 5 April 2024. Flights are now open for booking.

SIN BRU Singapore SQ 304 Brussels 23:55 07:20 (+1) BRU SIN Brussels SQ 303 Singapore 12:10 06:55 (+1)