News on AMC.ASX
Packaging giant Amcor will take a hit of between $US170 million and $US200 million ($A227.49 million-$A267.63 million) in pre-tax profits over the 2017 and 2018 financial years, after announcing several measures to streamline its flexibles business.
Keep this one on your radar. It’s likely that a buy signal will occur following the aggressive sell-side response to the earnings news. This is a market darling and leveraged investors will be getting squeezed. An oversold condition will soon emerge and we expect to see a signal within the $14.25 to $15.00 range.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks