High volatility in AMC Entertainment Holdings Inc stock price on Thursday which ended trading at $36.00StockInvest.us, 2 months ago
The AMC Entertainment Holdings Inc stock price gained 7.69% on the last trading day (Thursday, 15th Jul 2021), rising from $33.43 to $36.00. During the day the stock fluctuated 16.37% from a day low at $32.14 to a day high of $37.40. The price has fallen in 8 of the last 10 days and is down by -36.49% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 55 million more shares were traded than the day before. In total, 190 million shares were bought and sold for approximately $6.84 billion.
B. Riley does not see either upside or downside right now giving AMC "Buy - Neutral" on their last update on May 26, 2021. The price target was set to $16.00.
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 $34.36 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 175.43% during the next 3 months and, with a 90% probability hold a price between $94.63 and $249.03 at the end of this 3-month period.
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 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 $41.51 and $48.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 02, 2021, and so far it has fallen -42.45%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $33.43 and $32.04.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $32.04 may give a huge drop in the stock price.
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 $5.26 between high and low, or 16.37%. For the last week, the stock has had a daily average volatility of 12.07%.
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.
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.Check full AMC Entertainment Holdings Inc forecast and analysis here.