AMC Entertainment Holdings Inc stock price fell more than -11.38% Tuesday closing at $39.93StockInvest.us, 3 weeks ago
The AMC Entertainment Holdings Inc stock price fell by -11.38% on the last day (Tuesday, 9th Nov 2021) from $45.06 to $39.93. During the day the stock fluctuated 8.54% from a day low at $39.25 to a day high of $42.60. The price has risen in 7 of the last 10 days and is up by 10.76% 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 -28 million shares and in total, 38 million shares were bought and sold for approximately $1.50 billion.
On Nov 04, 2021 "Wedbush" gave "$7.50" rating for AMC. The price target was changed from $40.28 to 1.3%.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AMC Entertainment Holdings Inc stock with a 90% probability to be traded between $34.19 and $50.53 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
The AMC Entertainment Holdings Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $40.48. On a fall, the stock will find some support from the long-term average at approximately $38.60. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, October 27, 2021, and so far it has risen 14.87%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
AMC Entertainment Holdings Inc finds support from accumulated volume at $38.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $3.35 between high and low, or 8.54%. For the last week, the stock has had a daily average volatility of 8.59%.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for AMC Entertainment Holdings Inc stock to perform well in the short-term period.Check full AMC Entertainment Holdings Inc forecast and analysis here.