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High volatility in AMC Entertainment Holdings Inc stock price on Friday which ended trading at $29.01

StockInvest.us, 1 month ago

AMC Entertainment Holdings Inc

The AMC Entertainment Holdings Inc stock price fell by -4.19% on the last day (Friday, 3rd Dec 2021) from $30.28 to $29.01. During the day the stock fluctuated 22.74% from a day low at $25.31 to a day high of $31.06. The price has fallen in 7 of the last 10 days and is down by -28.21% for this period. Volume has increased on the last day by 11 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 66 million shares were bought and sold for approximately $1.91 billion.

On Nov 17, 2021 "Citigroup" gave "$5.00 - $6.00" rating for AMC. The price target was set to $42.84+0.6%.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.30 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -16.30% during the next 3 months and, with a 90% probability hold a price between $23.69 and $35.70 at the end of this 3-month period.

AMC Entertainment Holdings Inc

A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 1.54%. Further rise is indicated until a new top pivot has been found. 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 $33.59 and $38.43. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

AMC Entertainment Holdings Inc finds support from accumulated volume at $28.57 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 $5.75 between high and low, or 22.74%. For the last week, the stock has had a daily average volatility of 17.71%.

AMC Entertainment Holdings Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

AMC Entertainment Holdings Inc holds several negative signals and is within a very wide and falling trend, so we believe 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.