AMC Elliott Wave technical forecast [Video]
|AMC Elliott Wave technical analysis
Today’s Elliott Wave update focuses on AMCOR PLC (ASX: AMC). The stock has recently finished its second corrective wave — identified as a Double Zigzag. This formation indicates the start of a third wave, which is a motive wave, signaling potential upward momentum. This analysis will examine the expected trend and the detailed structure behind this forecasted bullish move.
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Function: Major Trend (Intermediate degree, Orange).
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Mode: Motive.
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Structure: Impulse.
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Position: Wave (3) – orange.
Details:
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Wave (1) – orange: Completed earlier.
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Wave (2) – orange: Recently ended as a Double Zigzag (W, X, Y – grey).
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This suggests that Wave (3) – orange is now underway and gaining momentum.
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Invalidation point: 14.11
AMC Elliott Wave technical analysis
Function: Major Trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave i)) – navy of Wave 3 – grey of Wave (3) – orange.
Details:
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Wave Y – grey of Wave (2) – orange has completed as a Zigzag, confirming the end of the correction.
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The chart shows that from the 14.11 level, waves 1, 2, and 3 – grey are forming.
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Currently, Wave 3 – grey is developing with sub-waves i)) to v)) – navy.
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The trend suggests continued upside momentum.
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Invalidation point: 14.11
Conclusion:
This analysis of AMCOR PLC – AMC presents a clear outlook based on wave structure and current price behavior. By identifying key validation/invalidation points, we enhance the reliability of this forecast. Traders can use these insights to align with market movements and improve trading decisions. Our goal is to deliver a professional and objective view of market dynamics.
Technical Analyst: Hua (Shane) Cuong, CEWA-M.
AMC Elliott Wave technical analysis [Video]
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