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Big movements in AMC Entertainment Holdings Inc stock price on Thursday moving 41.34% between high and low

StockInvest.us, 4 months ago

AMC Entertainment

The AMC Entertainment Holdings Inc stock price gained 8.00% on the last trading day (Thursday, 12th May 2022), rising from $10.37 to $11.20. During the day the stock fluctuated 41.34% from a day low at $9.70 to a day high of $13.71. The price has fallen in 7 of the last 10 days and is down by -28.39% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 million more shares were traded than the day before. In total, 105 million shares were bought and sold for approximately $1.17 billion.

Wedbush is very positive about AMC and gave it a "" rating on Nov 04, 2021. The price target was changed from 40.05 to 1.81.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.32 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -9.81% during the next 3 months and, with a 90% probability hold a price between $9.31 and $25.16 at the end of this 3-month period.

AMC Entertainment

There are mixed signals in the stock today. The AMC Entertainment Holdings Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $12.87 and $18.15. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 8.00%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $10.37.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.

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 $4.01 between high and low, or 41.34%. For the last week, the stock has had a daily average volatility of 20.02%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full AMC Entertainment forecast and analysis here.