Volatile ride for AMC Entertainment Holdings Inc stock price on Thursday moving between $38.76 and $49.79StockInvest.us, 6 months ago
The AMC Entertainment Holdings Inc stock price gained 6.37% on the last trading day (Thursday, 8th Jul 2021), rising from $45.07 to $47.94. During the day the stock fluctuated 28.46% from a day low at $38.76 to a day high of $49.79. The price has fallen in 7 of the last 10 days and is down by -17.77% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 49 million more shares were traded than the day before. In total, 143 million shares were bought and sold for approximately $6.86 billion.
B. Riley does not see either upside or downside right now giving AMC "Buy - Neutral" on their last update on May 26, 2021. The price target was set to $16.00.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $44.99 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 260.32% during the next 3 months and, with a 90% probability hold a price between $162.11 and $318.03 at the end of this 3-month period.
The AMC Entertainment Holdings Inc stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $51.75. On a fall, the stock will find some support from the long-term average at approximately $45.13. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -23.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
AMC Entertainment Holdings Inc finds support from accumulated volume at $47.91 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 $11.03 between high and low, or 28.46%. For the last week, the stock has had a daily average volatility of 15.01%.
Several short-term signals, along with a general good trend, 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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full AMC Entertainment Holdings Inc forecast and analysis here.