Strong day for AMC Entertainment Holdings Inc stock price on Monday rising 5.62% to $43.03StockInvest.us, 1 month ago
The AMC Entertainment Holdings Inc stock price gained 5.62% on the last trading day (Monday, 18th Oct 2021), rising from $40.74 to $43.03. , and has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 7.76% from a day low at $40.49 to a day high of $43.63. The price has risen in 7 of the last 10 days and is up by 17.02% 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, 5 million more shares were traded than the day before. In total, 50 million shares were bought and sold for approximately $2.16 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 9.5% during the next 3 months and, with a 90% probability hold a price between $36.81 and $58.59 at the end of this 3-month period.
The AMC Entertainment Holdings Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $39.00 and $41.81. 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, September 13, 2021, and so far it has fallen -16.75%. 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 $40.78 and $40.29.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 Holdings Inc finds support just below today's level at $40.78. If this is broken, then the next support from accumulated volume will be at $40.29 and $36.99.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.14 between high and low, or 7.76%. For the last week, the stock has had a daily average volatility of 6.21%.
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 Holdings Inc stock to perform well in the short-term.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full AMC Entertainment Holdings Inc forecast and analysis here.