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High volatility in AMC Entertainment Holdings Inc stock price on Tuesday which ended trading at $31.75

StockInvest.us, 1 year ago

AMC Entertainment

The AMC Entertainment Holdings Inc stock price fell by -6.07% on the last day (Tuesday, 10th Aug 2021) from $33.80 to $31.75. During the day the stock fluctuated 18.19% from a day low at $31.44 to a day high of $37.16. The price has fallen in 7 of the last 10 days and is down by -16.47% for this period. Volume has increased on the last day by 47 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 115 million shares were bought and sold for approximately $3.65 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 $26.19 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 27.53% during the next 3 months and, with a 90% probability hold a price between $33.40 and $95.47 at the end of this 3-month period.

AMC Entertainment

Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). 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 $32.91 and $42.73. 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 -49.24%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $29.84 and $26.52.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 $29.84. If this is broken, then the next support from accumulated volume will be at $26.52 and $26.12.

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 $5.72 between high and low, or 18.19%. For the last week, the stock has had a daily average volatility of 14.03%.

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 forecast and analysis here.