Red day on Monday for AMC Entertainment Holdings Inc stock after losing 4.39%StockInvest.us, 2 weeks ago
The AMC Entertainment Holdings Inc stock price fell by -4.39% on the last day (Monday, 4th Oct 2021) from $38.46 to $36.77. During the day the stock fluctuated 7.43% from a day low at $36.33 to a day high of $39.03. The price has fallen in 5 of the last 10 days and is down by -8.74% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -26 million shares and in total, 40 million shares were bought and sold for approximately $1.46 billion.
On Sep 01, 2021 "Macquarie" gave "" rating for AMC. The price target was set to $47.13+8.8%.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 7.33% during the next 3 months and, with a 90% probability hold a price between $34.59 and $56.40 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 $38.08 and $41.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 13, 2021, and so far it has fallen -28.86%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
AMC Entertainment Holdings Inc finds support from accumulated volume at $36.00 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 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 $2.70 between high and low, or 7.43%. For the last week, the stock has had a daily average volatility of 8.73%.
AMC Entertainment Holdings Inc is oversold on RSI14 (17). 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.