Trading: SELL @ $13.49
Signal Strength: STRONG
Indicator CAN BE USED in additional to another technical indicator to confirmation for trading position. Indicator can be applied to the short term timeframe but is only able to give and indication of the strength of the buyers versus sellers at the market close. This Japanese candlestick indicator can provide guidance on the short term battle between sellers and buyers from the companies recent trading.
Amcor (ASX:AMC) has formed a new Bear Tasuki pattern.
A candlestick formation that is commonly used to signal the continuation of the current downtrend. The pattern is formed when a series of candlesticks have demonstrated the following characteristics:
Calculation: Bear Tasuki Candlestick Pattern:
1) The first bar is a red candlestick within a defined downtrend;
2) The second bar is another red candlestick that has gapped below the close of the previous bar;
3) The last bar is a white candlestick that closes within the gap of the first two bars;
4) It is important to note that the white candle does not need to fully close the gap;
PROFILE: Amcor (AMC.AX)
Stock Exchange: ASX
Ticker Codes: | AMC.AX | ASX:AMC |
Amcor Limited provides packaging solutions in Western Europe, North America, Australia, New Zealand, and internationally. It operates through Amcor Rigid Plastics, Amcor Flexibles, and Other/Investments segments. The company manufactures rigid plastic containers for a range of beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads, and personal care items; and plastic caps for various applications. It also manufactures flexible and film packaging for the food and beverage industry, including confectionery, coffee, fresh food and dairy, and pet food packaging; and medical and pharmaceutical, fresh produce, and snack food segments. In addition, the company offers flexible packaging for specialty folding cartons for tobacco packaging and other industries; and packaging solutions for home and personal care products. Amcor Limited was incorporated in 1926 and is headquartered in Southbank, Australia.
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