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High volatility in AMC Entertainment stock price on Wednesday which ended trading at $23.67

StockInvest.us, 1 month ago

AMC Entertainment

The AMC Entertainment stock price gained 5.43% on the last trading day (Wednesday, 10th Aug 2022), rising from $22.45 to $23.67. During the last trading day the stock fluctuated 14.79% from a day low at $20.73 to a day high of $23.80. The price has risen in 8 of the last 10 days and is up by 63.47% 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, 2 million more shares were traded than the day before. In total, 64 million shares were bought and sold for approximately $1.50 billion.

The last rating was given by Citigroup on Jul 07, 2022. The price target was changed from 6 to 5.Over the last 90 days, this security got 0 buy, 2 sell, and 0 hold ratings.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $24.21 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 46.94% during the next 3 months and, with a 90% probability hold a price between $22.63 and $35.57 at the end of this 3-month period.

AMC Entertainment

The AMC Entertainment stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $20.86 and $15.79. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, August 08, 2022, and so far it has fallen -1.21%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $22.45 and $22.18.There is 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 $22.45. If this is broken, then the next support from accumulated volume will be at $22.18 and $18.66.

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 $3.07 between high and low, or 14.79%. For the last week, the stock has had a daily average volatility of 17.95%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AMC Entertainment stock to perform well in the short-term.

Check full AMC Entertainment forecast and analysis here.