High volatility in AMC Entertainment Holdings Inc stock price on Thursday which ended trading at $33.07StockInvest.us, 1 month ago
The AMC Entertainment Holdings Inc stock price gained 4.82% on the last trading day (Thursday, 12th Aug 2021), rising from $31.55 to $33.07. During the day the stock fluctuated 10.89% from a day low at $30.75 to a day high of $34.10. The price has fallen in 7 of the last 10 days and is down by -13.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately $2.33 billion.
On August 12, 2021 "Wedbush" gave "$7.50" rating for AMC. The price target was changed from $31.55 to 0.6%.
The stock lies in the middle of a very wide and strong 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 15.59% during the next 3 months and, with a 90% probability hold a price between $23.85 and $80.97 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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 Holdings Inc stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $41.25. On a fall, the stock will find some support from the short-term average at $32.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, June 02, 2021, and so far it has fallen -47.13%. Further fall is indicated until a new bottom pivot has been found.
AMC Entertainment Holdings Inc finds support from accumulated volume at $32.04 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 $3.35 between high and low, or 10.89%. For the last week, the stock has had a daily average volatility of 10.67%.
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 Holdings Inc forecast and analysis here.