Volatile ride for AMC Entertainment Holdings Inc stock price on Tuesday moving between $34.59 and $38.78StockInvest.us, 3 months ago
The AMC Entertainment Holdings Inc stock price gained 4.12% on the last trading day (Tuesday, 17th Aug 2021), rising from $35.69 to $37.16. , and has now gained 5 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 12.10% from a day low at $34.59 to a day high of $38.78. The price has risen in 6 of the last 10 days and is up by 10.63% 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, 2 thousand more shares were traded than the day before. In total, 86 million shares were bought and sold for approximately $3.20 billion.
On August 12, 2021 "Wedbush" gave "$7.50" rating for AMC. The price target was changed from $31.55 to 0.6%.
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 $12.79 and $63.69 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.
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 $39.46. On a fall, the stock will find some support from the short-term average at $33.78. 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 -40.59%. 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 $4.19 between high and low, or 12.10%. For the last week, the stock has had a daily average volatility of 10.06%.
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.