AMC Entertainment Holdings Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.StockInvest.us, 1 month ago
The AMC Entertainment Holdings Inc stock price gained 1.67% on the last trading day (Friday, 15th Oct 2021), rising from $40.07 to $40.74. , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 5.05% from a day low at $39.78 to a day high of $41.79. The price has risen in 6 of the last 10 days and is up by 5.93% over the past 2 weeks. Volume fell on the last day by -22 million shares and in total, 46 million shares were bought and sold for approximately $1.85 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Sep 01, 2021 "Macquarie" gave "" rating for AMC. The price target was set to $47.13+8.8%.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 9.65% during the next 3 months and, with a 90% probability hold a price between $36.83 and $58.61 at the end of this 3-month period.
There are mixed signals in the stock today. The AMC Entertainment Holdings 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 $41.75. On a fall, the stock will find some support from the short-term average at $38.30. 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. A sell signal was issued from a pivot top point on Monday, September 13, 2021, and so far it has fallen -21.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
AMC Entertainment Holdings Inc finds support from accumulated volume at $40.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.01 between high and low, or 5.05%. For the last week, the stock has had a daily average volatility of 5.96%.
AMC Entertainment Holdings Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full AMC Entertainment Holdings Inc forecast and analysis here.