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Strong day for AMC Entertainment stock price on Monday rising 5.14% to $10.22

StockInvest.us, 1 week ago

AMC Entertainment

The AMC Entertainment stock price gained 5.14% on the last trading day (Monday, 12th Sep 2022), rising from $9.72 to $10.22. It 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 last trading day the stock fluctuated 9.14% from a day low at $9.85 to a day high of $10.75. The price has risen in 6 of the last 10 days and is up by 11.45% 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, 11 million more shares were traded than the day before. In total, 47 million shares were bought and sold for approximately $481.13 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 lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.13 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -3.57% during the next 3 months and, with a 90% probability hold a price between $7.84 and $24.25 at the end of this 3-month period.

AMC Entertainment

There are mixed signals in the stock today. The AMC Entertainment stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $15.15. On a fall, the stock will find some support from the short-term average at $8.95. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, August 11, 2022, and so far it has fallen -59.86%. 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 is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $9.58 and $9.56.There is a 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 $9.58. If this is broken, then the next support from accumulated volume will be at $9.56 and $9.47.

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 $0.90 between high and low, or 9.14%. For the last week, the stock has had daily average volatility of 8.01%.

AMC Entertainment holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Check full AMC Entertainment forecast and analysis here.