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Big movements in AMC Entertainment Holdings Inc stock price on Tuesday moving 26.36% between high and low

StockInvest.us, 1 year ago

AMC Entertainment

The AMC Entertainment Holdings Inc stock price gained 24.47% on the last trading day (Tuesday, 20th Jul 2021), rising from $34.62 to $43.09. During the day the stock fluctuated 26.36% from a day low at $35.13 to a day high of $44.39. The price has fallen in 7 of the last 10 days and is down by -13.75% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 54 million more shares were traded than the day before. In total, 166 million shares were bought and sold for approximately $7.14 billion.

B. Riley does not see either upside or downside right now giving AMC "Buy - Neutral" on their last update on May 26, 2021. The price target was set to $16.00.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $35.47 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 137.8% during the next 3 months and, with a 90% probability hold a price between $84.34 and $215.08 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 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 $50.01. On a fall, the stock will find some support from the short-term average at $37.72. 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 Wednesday, June 02, 2021, and so far it has fallen -31.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

AMC Entertainment Holdings Inc finds support from accumulated volume at $42.81 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 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 $9.26 between high and low, or 26.36%. For the last week, the stock has had a daily average volatility of 17.25%.

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.

Check full AMC Entertainment forecast and analysis here.