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Green day on Friday for AMC Entertainment

StockInvest.us, 3 weeks ago

AMC Entertainment

The AMC Entertainment stock price gained 3.50% on the last trading day (Friday, 2nd Sep 2022), rising from $8.58 to $8.88. During the last trading day the stock fluctuated 9.82% from a day low at $8.35 to a day high of $9.17. The price has fallen in 7 of the last 10 days and is down by -50.72% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately $244.19 million.

The last rating was given by Wedbush on Aug 23, 2022. The price target was changed from 4 to 2.Over the last 90 days, this security got 0 buy, 3 sell, and 0 hold ratings.

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 $8.63 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 12.21% during the next 3 months and, with a 90% probability hold a price between $9.68 and $29.38 at the end of this 3-month period.

AMC Entertainment

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AMC Entertainment 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 $9.15 and $16.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, August 11, 2022, and so far it has fallen -65.12%. 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).

AMC Entertainment finds support from accumulated volume at $8.58 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 $0.82 between high and low, or 9.82%. For the last week, the stock has had daily average volatility of 8.03%.

AMC Entertainment is oversold on RSI14 (7). 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 stock holds several negative signals and despite the positive trend, we believe AMC Entertainment will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Check full AMC Entertainment forecast and analysis here.