Stronger technical forecast for AMC Entertainment Holdings Inc stock price after Wednesday trading.StockInvest.us, 1 month ago
The AMC Entertainment Holdings Inc stock price fell by -0.62% on the last day (Wednesday, 6th Oct 2021) from $37.06 to $36.83. During the day the stock fluctuated 5.64% from a day low at $35.64 to a day high of $37.65. The price has fallen in 5 of the last 10 days and is down by -8.11% 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 -2 million shares and in total, 35 million shares were bought and sold for approximately $1.30 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 7.98% during the next 3 months and, with a 90% probability hold a price between $35.11 and $56.93 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Monday, October 04, 2021, and so far it has risen 0.16%. 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 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 $37.31 and $41.80. 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 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 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 $2.01 between high and low, or 5.64%. For the last week, the stock has had a daily average volatility of 9.70%.
AMC Entertainment Holdings Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
AMC Entertainment Holdings Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.Check full AMC Entertainment Holdings Inc forecast and analysis here.