Technical Analysis: Based on recent price action, AMCR has been trading in a downward channel, with the stock currently at $10.07 as of the last close. The stock has formed a series of lower highs and lower lows, indicating bearish momentum.
News Impact: Recent developments show positive long-term potential:
Price Prediction for Next Week: Based on technical analysis and recent news:
Expected price range for next week:
Trading Recommendation: SELL
Rationale:
The stock is likely to test lower support levels next week before finding stability. While long-term fundamentals appear promising due to strategic initiatives, short-term technical indicators suggest downward pressure will persist.
The price of AMCR is predicted to go up 4.82%, based on the high correlation periods with CG. The similarity of these two price pattern on the periods is 97.38%.
AMCR
CG
Year
AMCR Price Forecast($)
Potential Return(%)
2025
10.500
11.580
2026
11.500
18.310
2027
12.500
28.600
2028
12.500
28.600
2029
13.500
38.890
2030
15.000
54.320
Exposure to high-growth emerging markets balances low-volume growth in mature developed markets for products with similar or higher profit margins.
Amcor's global production network enables improved scale-based cost efficiencies leading to improved margins and profitability and the ability to further consolidate fragmented or subscale markets.
A focus on product innovation and differentiation leads to increased market share of niche, high-value-added products, resulting in margin growth.
Macquarie
2024-11-27
Price Target
n/a
Downside
0%
Wells Fargo
2024-10-15
Price Target
$11 → $11
Downside
-5.01%