High volatility in AMC Entertainment Holdings Inc stock price on Thursday which ended trading at $38.06StockInvest.us, 1 month ago
The AMC Entertainment Holdings Inc stock price gained 2.89% on the last trading day (Thursday, 30th Sep 2021), rising from $36.99 to $38.06. During the day the stock fluctuated 23.83% from a day low at $33.74 to a day high of $41.78. The price has fallen in 6 of the last 10 days and is down by -17.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 101 million more shares were traded than the day before. In total, 101 million shares were bought and sold for approximately $3.85 billion.
On September 01, 2021 "Macquarie" gave "" rating for AMC. The price target was set to $47.13+8.8%.
The stock lies in the middle of a very wide and weak 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 3.27% during the next 3 months and, with a 90% probability hold a price between $31.90 and $53.73 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 $38.77 and $41.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 13, 2021, and so far it has fallen -26.37%. 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).
On the downside, the stock finds support just below today's level from accumulated volume at $36.00 and $34.96.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, AMC Entertainment Holdings Inc finds support just below today's level at $36.00. If this is broken, then the next support from accumulated volume will be at $34.96 and $33.43.
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 $8.04 between high and low, or 23.83%. For the last week, the stock has had a daily average volatility of 7.36%.
AMC Entertainment Holdings Inc is oversold on RSI14 (20). 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full AMC Entertainment Holdings Inc forecast and analysis here.