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Big movements in AMC Entertainment Holdings Inc stock price on Wednesday moving 16.06% between high and low

StockInvest.us, 4 months ago

AMC Entertainment Holdings Inc

The AMC Entertainment Holdings Inc stock price fell by -5.36% on the last day (Wednesday, 21st Jul 2021) from $43.09 to $40.78. During the day the stock fluctuated 16.06% from a day low at $40.11 to a day high of $46.55. The price has fallen in 7 of the last 10 days and is down by -9.52% for this period. 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 -8 million shares and in total, 157 million shares were bought and sold for approximately $6.41 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 $36.26 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 128.43% during the next 3 months and, with a 90% probability hold a price between $82.83 and $206.57 at the end of this 3-month period.

AMC Entertainment Holdings Inc

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 $50.26. On a fall, the stock will find some support from the short-term average at $37.46. 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 -34.80%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

On the downside, the stock finds support just below today's level from accumulated volume at $36.00 and $33.43.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 $36.00. If this is broken, then the next support from accumulated volume will be at $33.43 and $32.04.

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 $6.44 between high and low, or 16.06%. For the last week, the stock has had a daily average volatility of 16.92%.

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 Holdings Inc forecast and analysis here.