Big movements in AMC Entertainment stock price on Monday moving 86.08% between high and low, 1 week ago

AMC Entertainment

The AMC Entertainment stock price gained 78.35% on the last trading day (Monday, 13th May 2024), rising from $2.91 to $5.19. During the last trading day the stock fluctuated 86.08% from a day low at $3.16 to a day high of $5.88. The price has fallen in 5 of the last 10 days but is still up by 71.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 455 million more shares were traded than the day before. In total, 478 million shares were bought and sold for approximately $2.48 billion.

On Apr 18, 2024, it was reported that Wedbush gave AMC a "Neutral" grade with a "hold" action.

Given the current short-term trend, the stock is expected to fall -27.21% during the next 3 months and, with a 90% probability hold a price between $1.33 and $3.78 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.

AMC Entertainment

The AMC Entertainment stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.45 and $3.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 110.12%. 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.

AMC Entertainment finds support from accumulated volume at $4.99 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $2.72 between high and low, or 86.08%. For the last week, the stock has had daily average volatility of 23.68%.

AMC Entertainment 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 forecast and analysis here.