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.