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High volatility in AMC Entertainment Holdings Inc stock price on Wednesday which ended trading at $33.43

StockInvest.us, 4 months ago

AMC Entertainment Holdings Inc

The AMC Entertainment Holdings Inc stock price fell by -15.04% on the last day (Wednesday, 14th Jul 2021) from $39.35 to $33.43. and has now fallen 5 days in a row. During the day the stock fluctuated 17.70% from a day low at $33.25 to a day high of $39.13. The price has fallen in 8 of the last 10 days and is down by -40.76% for this period. Volume has increased on the last day by 52 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, 135 million shares were bought and sold for approximately $4.51 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.

Given the current short-term trend, the stock is expected to rise 191.1% during the next 3 months and, with a 90% probability hold a price between $97.31 and $262.77 at the end of this 3-month period.

AMC Entertainment Holdings Inc

There are few to no technical positive signals at the moment. 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 $43.51 and $48.29. 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 -46.55%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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 $5.89 between high and low, or 17.70%. For the last week, the stock has had a daily average volatility of 14.49%.

AMC Entertainment Holdings Inc is oversold on RSI14 (18). 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.