Big movements in AMC Entertainment Holdings Inc stock price on Thursday moving 17.42% between high and lowStockInvest.us, 3 months ago
The AMC Entertainment Holdings Inc stock price fell by -1.85% on the last day (Thursday, 10th Feb 2022) from $18.94 to $18.59. During the day the stock fluctuated 17.42% from a day low at $17.85 to a day high of $20.96. The price has risen in 6 of the last 10 days and is up by 28.03% over the past 2 weeks. Volume has increased on the last day by 23 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 98 million shares were bought and sold for approximately $1.83 billion.
On Nov 17, 2021 "Citigroup" gave "$5.00 - $6.00" rating for AMC. The price target was set to $42.84+0.6%.
Given the current short-term trend, the stock is expected to fall -59.26% during the next 3 months and, with a 90% probability hold a price between $4.14 and $7.57 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.
A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 28.03%. 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 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 $20.75. On a fall, the stock will find some support from the short-term average at $16.36. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
On the downside, the stock finds support just below today's level from accumulated volume at $16.86 and $16.64.There is 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 Entertainment Holdings Inc finds support just below today's level at $16.86. If this is broken, then the next support from accumulated volume will be at $16.64 and $15.94.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $3.11 between high and low, or 17.42%. For the last week, the stock has had a daily average volatility of 13.09%.
AMC Entertainment Holdings 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.Check full AMC Entertainment Holdings Inc forecast and analysis here.