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The AMC Entertainment stock price fell by -2.11% on the last day (Tuesday, 30th Aug 2022) from $9.47 to $9.27. During the last trading day the stock fluctuated 6.78% from a day low at $9.03 to a day high of $9.64. The price has fallen in 8 of the last 10 days and is down by -62.64% 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 -14 million shares and in total, 25 million shares were bought and sold for approximately $231.71 million.
The last rating was given by Wedbush on Aug 23, 2022. The price target was changed from 4 to 2.Over the last 90 days, this security got 0 buy, 3 sell, and 0 hold ratings.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $9.33. A reaction back to this level may hold a second chance to get out before further falls.
A buy signal was issued from a pivot bottom point on Friday, August 26, 2022, and so far it has risen 1.09%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AMC Entertainment 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 $9.58 and $16.77. A break-up above any of these levels will issue buy signals. 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 finds support from accumulated volume at $9.17 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 $0.61 between high and low, or 6.78%. For the last week, the stock has had daily average volatility of 7.32%.
AMC Entertainment is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
The AMC Entertainment stock holds several negative signals and despite the positive trend, we believe AMC Entertainment will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Check full AMC Entertainment forecast and analysis here.