AMC Networks Inc. Stock Forecast
AMC Networks Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The AMC Networks Inc. stock price fell by -0.605% on the last day (Wednesday, 24th Apr 2024) from $11.57 to $11.50. During the last trading day the stock fluctuated 2.87% from a day low at $11.33 to a day high of $11.66. The price has risen in 6 of the last 10 days and is up by 5.99% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -199 thousand shares and in total, 317 thousand shares were bought and sold for approximately $3.64 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $11.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -37.66% during the next 3 months and, with a 90% probability hold a price between $5.82 and $7.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AMCX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 14.77%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The AMC Networks Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.70. On a fall, the stock will find some support from the short-term average at $10.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for AMC Networks Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.85 and $10.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, AMC Networks Inc. finds support just below today's level at $10.85. If this is broken, then the next support from accumulated volume will be at $10.60 and $10.25.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.325 between high and low, or 2.87%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMCX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect AMC Networks Inc. to open at $11.50, and during the day (based on 14 day Average True Range), to move between $10.89 and $12.11, which gives a possible trading interval of +/-$0.606 (+/-5.27%) up or down from last closing price. If AMC Networks Inc. takes out the full calculated possible swing range there will be an estimated 10.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.85 (5.65%) than the resistance at $12.23 (6.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AMC Networks Inc. stock A Buy?
AMC Networks Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.186 Sell Candidate Downgraded
Predicted Opening Price for AMC Networks Inc. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $11.50 ( 0.0435%) | $11.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMCX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.82 | 2.78 % | |
| R2 | 11.70 | 1.70 % | ||
| R1 | 11.62 | 1.04 % | ||
| Current price: | 11.50 | |||
| Support | S1 | 11.37 | -1.12 % | |
| S2 | 11.29 | -1.79 % | ||
| S3 | 11.17 | -2.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.67 | 10.17 % | |
| R2 | 12.29 | 6.87 % | ||
| R1 | 12.23 | 6.35 % | ||
| Current price | 11.50 | |||
| Support | S1 | 10.85 | -5.65% | |
| S2 | 10.60 | -7.83% | ||
| S3 | 10.25 | -10.87% |
FAQ
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