Volatile ride for AMC Entertainment Holdings Inc stock price on Monday moving between $34.40 and $37.93StockInvest.us, 3 weeks ago
The AMC Entertainment Holdings Inc stock price gained 6.89% on the last trading day (Monday, 23rd Aug 2021), rising from $34.41 to $36.78. , and has now gained 3 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 10.26% from a day low at $34.40 to a day high of $37.93. The price has risen in 6 of the last 10 days and is up by 8.82% 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, 20 million more shares were traded than the day before. In total, 75 million shares were bought and sold for approximately $2.75 billion.
On August 19, 2021 "Citigroup" gave "$3.70 - $5.00" rating for AMC. The price target was changed from $36.55 to 1.6%.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -19.21% during the next 3 months and, with a 90% probability hold a price between $1.16 and $41.59 at the end of this 3-month period.
Furthermore, there is a buy signal from the 3 months 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. The AMC Entertainment Holdings Inc 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 $37.24. On a fall, the stock will find some support from the short-term average at $35.41. 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 Wednesday, June 02, 2021, and so far it has fallen -41.20%. Further fall is indicated until a new bottom pivot has been found.
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 $3.53 between high and low, or 10.26%. For the last week, the stock has had a daily average volatility of 9.24%.
AMC Entertainment Holdings Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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.