Amcor plc momentum stays strong, shares extend weekly gains in ASX trade

By Julia Schmitt, Sector & Peer Group desk. Reviewed prior to publication on 2026-06-26, 15:04.

Amcor plc (JE00BJ1F6598) enters the weekend with continued strength on the Australian Securities Exchange, where the packaging group trades under the ticker AMC. According to a market comment from The Bull, the shares gained 1.77 percent ahead of the weekend and are about 5 percent higher over the week, pushing the relative strength index (RSI) to 72.24, a level that signals overbought momentum conditions on standard technical definitions.

RSI points to stretched momentum

The Bull describes Amcor shares as moving into overbought territory on the weekly close, with the RSI at 72.24 as momentum builds after several supportive corporate developments following the completed combination with Berry Global. In classical technical analysis, RSI readings above 70 are often interpreted as stretched, although they can also reflect strong underlying buying interest in sustained upward trends.

Over the past month, Amcor shares have advanced 13.41 percent, according to the same commentary, underlining a marked re-rating in investor perception of the enlarged packaging platform. That performance sits against a backdrop of steady dividend income, with Hargreaves Lansdown data pointing to a dividend yield of about 6.23 percent based on recent distributions and the latest share price.

Weekly performance in sector context

Compared with global packaging peers such as Smurfit Kappa and Ball Corporation, Amcor’s recent share performance stands out as robust on a one-month view, with the company’s shares up by double digits while maintaining a high single-digit dividend yield. Hargreaves Lansdown quotes a market capitalization close to 19.8 billion US dollars and a price-to-earnings ratio of 17.3 times, placing Amcor in the mid-teens earnings multiple range typical for established packaging majors.

The Bull notes that a succession of “confidence-building developments” since the Berry Global combination has supported a positive narrative around scale advantages and resilience. This has fed into a perception that the group may be better positioned than smaller rivals to absorb input-cost volatility and shifting customer demand patterns, although the article also stresses that technical indicators now signal overbought conditions on a short-term basis.

How Amcor makes its money

Amcor generates its revenue primarily by supplying flexible and rigid packaging solutions for food, beverage, healthcare, personal care and specialty end markets worldwide, with a significant presence in North America, Europe and the Asia-Pacific region. The company offers products such as flexible pouches, films, rigid containers and closures, designed to protect contents, extend shelf life and support brand differentiation for consumer-product manufacturers.

Where the shares trade today

The Amcor plc shares (JE00BJ1F6598) most actively trade on the Australian Securities Exchange under the ticker AMC and on the New York Stock Exchange under the ticker AMCR, with recent indicative pricing around 42 to 43 US dollars per NYSE share and an implied market capitalization near 19.8 billion US dollars as of the latest available data.

This article is for informational purposes only and does not constitute investment advice, investment recommendation or an offer or solicitation to buy or sell any securities. Investors should conduct their own research or consult a qualified financial advisor before making investment decisions.