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High volatility in AMC Entertainment stock price on Friday which ended trading at $9.72

StockInvest.us, 2 weeks ago

AMC Entertainment

The AMC Entertainment stock price gained 12.50% on the last trading day (Friday, 9th Sep 2022), rising from $8.64 to $9.72. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.82% from a day low at $8.78 to a day high of $9.73. The price has been going up and down for this period, and there has been a 1.57% 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, 20 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately $354.01 million.

The last rating was given by Wedbush on Aug 23, 2022. The price target was changed from 4 to 2.Over the last 90 days, this security got 0 buy, 3 sell, and 0 hold ratings.

The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $8.18 will give a strong sell signal and a trend shift may be expected.Given the current horizontal trend, you can expect AMC Entertainment stock with a 90% probability to be traded between $8.08 and $25.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

AMC Entertainment

A buy signal was issued from a pivot bottom point on Tuesday, September 06, 2022, and so far it has risen 18.68%. Further rise is indicated until a new top pivot has been found. 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 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 $15.30. On a fall, the stock will find some support from the short-term average at $8.79. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

AMC Entertainment finds support from accumulated volume at $9.58 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 $0.95 between high and low, or 10.82%. For the last week, the stock has had daily average volatility of 8.15%.

AMC Entertainment is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

AMC Entertainment holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Check full AMC Entertainment forecast and analysis here.