High volatility in AMC Entertainment stock price on Thursday which ended trading at $8.14StockInvest.us, 2 months ago
The AMC Entertainment stock price fell by -1.21% on the last day (Thursday, 14th Sep 2023) from $8.24 to $8.14. During the last trading day the stock fluctuated 13.11% from a day low at $8.05 to a day high of $9.10. The price has been going up and down for this period, and there has been a -36.06% loss for the last 2 weeks. Volume has increased on the last day by 9 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, 46 million shares were bought and sold for approximately $376.94 million.
On Aug 24, 2023, it was reported that Wedbush gave AMC a "Neutral" grade with a "upgrade" action.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.65 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -50.74% during the next 3 months and, with a 90% probability hold a price between $2.29 and $18.75 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Friday, September 08, 2023, and so far it has risen 13.37%. 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). 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 $28.92. On a fall, the stock will find some support from the short-term average at $7.89. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
AMC Entertainment finds support from accumulated volume at $8.12 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 $1.06 between high and low, or 13.11%. For the last week, the stock has had daily average volatility of 12.01%.
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.Check full AMC Entertainment forecast and analysis here.