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High volatility in AMC Entertainment Holdings Inc stock price on Monday which ended trading at $11.71

StockInvest.us, 4 months ago

AMC Entertainment

The AMC Entertainment Holdings Inc stock price fell by -0.85% on the last day (Monday, 16th May 2022) from $11.81 to $11.71. During the day the stock fluctuated 10.09% from a day low at $11.50 to a day high of $12.66. The price has fallen in 6 of the last 10 days and is down by -23.26% 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 -17 million shares and in total, 41 million shares were bought and sold for approximately $478.61 million.

Wedbush is very positive about AMC and gave it a "" rating on Nov 04, 2021. The price target was changed from 40.05 to 1.81.

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 $10.18 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -12.28% during the next 3 months and, with a 90% probability hold a price between $8.93 and $23.98 at the end of this 3-month period.

AMC Entertainment

There are mixed signals in the stock today. 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 $11.89 and $17.67. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 12.92%. 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).

AMC Entertainment Holdings Inc finds support from accumulated volume at $11.20 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 $1.16 between high and low, or 10.09%. For the last week, the stock has had a daily average volatility of 19.89%.

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 forecast and analysis here.