Volatile ride for AMC Entertainment Holdings Inc stock price on Monday moving between $41.77 and $45.95StockInvest.us, 3 weeks ago
The AMC Entertainment Holdings Inc stock price gained 8.06% on the last trading day (Monday, 8th Nov 2021), rising from $41.70 to $45.06. , 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 10.01% from a day low at $41.77 to a day high of $45.95. The price has risen in 7 of the last 10 days and is up by 22.35% 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, 26 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $2.96 billion.
On Nov 04, 2021 "Wedbush" gave "$7.50" rating for AMC. The price target was changed from $40.28 to 1.3%.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AMC Entertainment Holdings Inc stock with a 90% probability to be traded between $34.63 and $51.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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 $39.83 and $38.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, October 27, 2021, and so far it has risen 29.63%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
AMC Entertainment Holdings Inc finds support from accumulated volume at $44.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $4.18 between high and low, or 10.01%. For the last week, the stock has had a daily average volatility of 8.07%.
Several short-term signals 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 period.Check full AMC Entertainment Holdings Inc forecast and analysis here.