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Potential Price Increase for Amcor Plc (AMCR) After Recent Insider Activity

Amcor Plc’s recent filing unveils that its PRESIDENT,AMCOR RIGID PKG Roegner Eric V acquired Company’s shares for reported $14197.0 on Feb 09 ’24. In the deal valued at $9.10 per share,1,560 shares were bought. As a result of this transaction, Roegner Eric V now holds 520 shares worth roughly $4981.6.

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Then, Guerra Karen Jane sold 25,000 shares, generating $225,444 in total proceeds. Upon selling the shares at $9.02, the Director now owns 75,424 shares.

Before that, NAYAR ARUN sold 10,261 shares. Amcor Plc shares valued at $96,351 were divested by the Director at a price of $9.39 per share. As a result of the transaction, NAYAR ARUN now holds 52,527 shares, worth roughly $0.5 million.

Wells Fargo initiated its Amcor Plc [AMCR] rating to an Equal weight in a research note published on June 28, 2024; the price target was $9.80. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early July from “a Buy” to “an Underperform”. JP Morgan also remained covering AMCR and has increased its forecast on May 03, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Jefferies revised its rating on May 03, 2023. It rated AMCR as “a Hold” which previously was an “an Underperform”.

Price Performance Review of AMCR

On Tuesday, Amcor Plc [NYSE:AMCR] saw its stock fall -0.21% to $9.58. Over the last five days, the stock has lost -3.04%. Amcor Plc shares have fallen nearly -0.62% since the year began. Nevertheless, the stocks have fallen -4.01% over the past one year. While a 52-week high of $10.51 was reached on 05/13/24, a 52-week low of $8.45 was recorded on 02/13/24. SMA at 50 days reached $9.88, while 200 days put it at $9.41. A total of 7.44 million shares were traded, compared to the trading of 7.05 million shares in the previous session.

Levels Of Support And Resistance For AMCR Stock

The 24-hour chart illustrates a support level at 9.48, which if violated will result in even more drops to 9.39. On the upside, there is a resistance level at 9.65. A further resistance level may holdings at 9.73. The Relative Strength Index (RSI) on the 14-day chart is 34.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.44%. Stochastics%K at 12.23% indicates the stock is a buying.

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