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High volatility in AMC Entertainment Holdings Inc stock price on Wednesday which ended trading at $45.07

StockInvest.us, 6 months ago

AMC Entertainment Holdings Inc

The AMC Entertainment Holdings Inc stock price fell by -9.79% on the last day (Wednesday, 7th Jul 2021) from $49.96 to $45.07. and has now fallen 5 days in a row. During the day the stock fluctuated 14.46% from a day low at $42.80 to a day high of $48.99. The price has fallen in 7 of the last 10 days and is down by -22.65% for this period. Volume has increased on the last day by 32 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, 94 million shares were bought and sold for approximately $4.24 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 $44.01 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 272.78% during the next 3 months and, with a 90% probability hold a price between $164.06 and $325.32 at the end of this 3-month period.

AMC Entertainment Holdings Inc

The AMC Entertainment Holdings Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $53.20. On a fall, the stock will find some support from the long-term average at approximately $44.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 02, 2021, and so far it has fallen -27.95%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $42.81.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.

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 $6.19 between high and low, or 14.46%. For the last week, the stock has had a daily average volatility of 10.61%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Check full AMC Entertainment Holdings Inc forecast and analysis here.