Our Algo Engine triggered a buy signal on Amcor as the stock forms a “higher low” pattern at or near $15.30.
Amcor reports earnings on the 22nd August, the market in looking for EPS growth of 8 – 10%. The recent rally in the AUD may see forward guidance reduced slightly, if the AUD was to stay above $0.80.
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We continue to like Amcor as a buy and hold portfolio position, complimented with a covered call option. We’re allowing moderate capital growth and when combining the dividend with the covered call option, we’re generate 10 – 12% annualised cashflow.
