Evaluation of AMC Entertainment Holdings Inc stock downgraded after the last trading session.StockInvest.us, 3 months ago
The AMC Entertainment Holdings Inc stock price gained 1.05% on the last trading day (Friday, 1st Oct 2021), rising from $38.06 to $38.46. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 6.30% from a day low at $37.75 to a day high of $40.13. The price has fallen in 5 of the last 10 days and is down by -12.99% for this period. Volume fell on the last day by -36 million shares and in total, 65 million shares were bought and sold for approximately $2.51 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Sep 01, 2021 "Macquarie" gave "" rating for AMC. The price target was set to $47.13+8.8%.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 5.61% during the next 3 months and, with a 90% probability hold a price between $33.42 and $55.24 at the end of this 3-month period.
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 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 $38.54 and $41.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 13, 2021, and so far it has fallen -25.59%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $36.00 and $34.96.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 $34.96 and $33.43.
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 $2.38 between high and low, or 6.30%. For the last week, the stock has had a daily average volatility of 7.97%.
AMC Entertainment Holdings Inc is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
The AMC Entertainment Holdings Inc stock holds several negative signals and despite the positive trend, we believe AMC Entertainment Holdings Inc will perform weakly in the next couple of days or weeks. Therefore, we 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.