High volatility in AMC Entertainment Holdings Inc stock price on Tuesday which ended trading at $16.43StockInvest.us, 3 months ago
The AMC Entertainment Holdings Inc stock price gained 10.19% on the last trading day (Tuesday, 8th Feb 2022), rising from $14.91 to $16.43. During the day the stock fluctuated 14.81% from a day low at $14.65 to a day high of $16.82. The price has been going up and down for this period, and there has been a 2.56% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 million more shares were traded than the day before. In total, 51 million shares were bought and sold for approximately $838.65 million.
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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -61.53% during the next 3 months and, with a 90% probability hold a price between $4.20 and $6.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 13.15%. 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). 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 $21.39. On a fall, the stock will find some support from the short-term average at $15.70. 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.
AMC Entertainment Holdings Inc finds support from accumulated volume at $15.94 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 $2.17 between high and low, or 14.81%. For the last week, the stock has had a daily average volatility of 9.89%.
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 Holdings Inc forecast and analysis here.