Amcor seems to have fallen below its previous lows of the last three panics. (August, January, March )
Since it ended its buyback, it seems to be sold off steadily - look at this weeks intraday chart.
You would think if someone wanted to offload Amcor shares like this, they would have been selling while the buyback was still in operation.
There is a view around that Amcor is in a bit of trouble with its business. I suspect that some hedge fund may be shorting Amcor a bit at the moment, deliberately choosing to start right after the buyback ended, trying to provoke a sharp downwards movement which will profit them.
Amcor has gotten support about 12 times at about 6.50 going way back to June 2004, one could take the view that they WON'T get this sort of buying support any more.
AMC Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)