Volatile ride for AMC Entertainment Holdings Inc stock price on Wednesday moving between $38.88 and $44.21StockInvest.us, 3 weeks ago
The AMC Entertainment Holdings Inc stock price gained 5.16% on the last trading day (Wednesday, 3rd Nov 2021), rising from $38.79 to $40.79. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 13.71% from a day low at $38.88 to a day high of $44.21. The price has risen in 6 of the last 10 days, but is still down by -0.22% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 44 million more shares were traded than the day before. In total, 82 million shares were bought and sold for approximately $3.32 billion.
On Sep 01, 2021 "Macquarie" gave "" rating for AMC. The price target was set to $47.13+8.8%.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 2.3% during the next 3 months and, with a 90% probability hold a price between $31.73 and $53.58 at the end of this 3-month period.
The AMC Entertainment Holdings Inc stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $36.87 and $38.67. A breakdown below any of these levels will issue sell signals. 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 Monday, September 13, 2021, and so far it has fallen -21.09%. Further fall is indicated until a new bottom pivot has been found. 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 $40.31 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 $5.33 between high and low, or 13.71%. For the last week, the stock has had a daily average volatility of 6.85%.
Since the AMC Entertainment Holdings Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
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.