High volatility in AMC Entertainment stock price on Thursday which ended trading at $4.90

The AMC Entertainment stock price gained 20.99% on the last trading day (Thursday, 6th Apr 2023), rising from $4.05 to $4.90. During the last trading day the stock fluctuated 19.62% from a day low at $4.31 to a day high of $5.16. The price has risen in 6 of the last 10 days and is up by 9.62% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 74 million more shares were traded than the day before. In total, 101 million shares were bought and sold for approximately $496.60 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -8.44% during the next 3 months and, with a 90% probability hold a price between $3.56 and $6.68 at the end of this 3-month period.

A buy signal was issued from a pivot bottom point on Tuesday, April 04, 2023, and so far it has risen 25.32%. 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 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 $5.31. On a fall, the stock will find some support from the short-term average at $4.71. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $4.64 and $4.50.There is a 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 finds support just below today's level at $4.64. If this is broken, then the next support from accumulated volume will be at $4.50 and $3.91.

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 $0.85 between high and low, or 19.62%. For the last week, the stock has had daily average volatility of 9.21%.

AMC Entertainment 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.