Volatile ride for AMC Entertainment Holdings Inc stock price on Monday moving between $41.28 and $45.71StockInvest.us, 1 month ago
The AMC Entertainment Holdings Inc stock price gained 6.10% on the last trading day (Monday, 30th Aug 2021), rising from $40.84 to $43.33. , 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 10.73% from a day low at $41.28 to a day high of $45.71. The price has risen in 6 of the last 10 days and is up by 21.41% 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, 36 million more shares were traded than the day before. In total, 108 million shares were bought and sold for approximately $4.67 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $39.86, a level that may pose a second chance to hit a runner. According to fan-theory $70.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
The AMC Entertainment Holdings Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $40.56 and $36.70. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 02, 2021, and so far it has fallen -30.73%. Further fall is indicated until a new bottom pivot has been found.
AMC Entertainment Holdings Inc finds support from accumulated volume at $43.09 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 $4.43 between high and low, or 10.73%. For the last week, the stock has had a daily average volatility of 14.51%.
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.Check full AMC Entertainment Holdings Inc forecast and analysis here.