Is AMC Entertainment Holdings Inc stock still a buy after falling -7.65% on Tuesday ?StockInvest.us, 3 months ago
The AMC Entertainment Holdings Inc stock price fell by -7.65% on the last day (Tuesday, 13th Jul 2021) from $42.61 to $39.35. and has now fallen 4 days in a row. During the day the stock fluctuated 8.89% from a day low at $38.70 to a day high of $42.14. The price has fallen in 8 of the last 10 days and is down by -32.28% for this period. Volume has increased on the last day by 22 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, 83 million shares were bought and sold for approximately $3.27 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.
Given the current short-term trend, the stock is expected to rise 210.72% during the next 3 months and, with a 90% probability hold a price between $122.27 and $280.16 at the end of this 3-month period.
There are few to no technical positive signals at the moment. The AMC Entertainment Holdings Inc stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $46.15 and $47.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 02, 2021, and so far it has fallen -37.09%. 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 $32.04.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 $3.44 between high and low, or 8.89%. For the last week, the stock has had a daily average volatility of 13.84%.
AMC Entertainment Holdings Inc is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
The AMC Entertainment Holdings Inc stock holds several negative signals and despite the positive trend, we believe AMC Entertainment Holdings Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Check full AMC Entertainment Holdings Inc forecast and analysis here.