Volatile ride for AMC Entertainment Holdings Inc stock price on Thursday moving between $11.59 and $12.88StockInvest.us, 4 months ago
The AMC Entertainment Holdings Inc stock price gained 2.95% on the last trading day (Thursday, 26th May 2022), rising from $11.88 to $12.23. , 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 11.13% from a day low at $11.59 to a day high of $12.88. The price has been going up and down for this period, and there has been a 9.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 million more shares were traded than the day before. In total, 71 million shares were bought and sold for approximately $866.50 million.
Wedbush is very positive about AMC and gave it a "" rating on Nov 04, 2021. The price target was changed from 40.05 to 1.81.
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 $9.13 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -22.05% during the next 3 months and, with a 90% probability hold a price between $7.11 and $19.33 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Wednesday, May 11, 2022, and so far it has risen 17.94%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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. 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 $14.80. On a fall, the stock will find some support from the short-term average at $11.99. 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.
AMC Entertainment Holdings Inc finds support from accumulated volume at $11.81 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 $1.29 between high and low, or 11.13%. For the last week, the stock has had a daily average volatility of 11.54%.
AMC Entertainment Holdings Inc 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.Check full AMC Entertainment forecast and analysis here.