AMC Entertainment stock downgraded to Strong Sell Candidate
(Updated on Sep 30, 2022)
Sell candidate since 2022-09-12 Loss -31.80% PDF
The AMC Entertainment stock price fell by -1.83% on the last day (Friday, 30th Sep 2022) from $7.10 to $6.97. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.74% from a day low at $6.82 to a day high of $7.28. The price has fallen in 6 of the last 10 days and is down by -22.38% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 million shares and in total, 16 million shares were bought and sold for approximately $114.33 million.
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 $6.17 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -34.38% during the next 3 months and, with a 90% probability hold a price between $4.05 and $12.94 at the end of this 3-month period.
Signals & Forecast
There are mixed signals in the stock today. The AMC Entertainment stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.41 and $11.08. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, September 26, 2022, and so far it has risen 2.05%. 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).
Support, Risk & Stop-loss
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 $0.46 between high and low, or 6.74%. For the last week, the stock has had daily average volatility of 10.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect AMC Entertainment Holdings Inc to open at $7.02, and during the day (based on 14 day Average True Range), to move between $6.00 and $7.94, which gives a possible trading interval of +/-$0.97 (+/-13.85%) up or down from last closing price. If AMC Entertainment Holdings Inc takes out the full calculated possible swing range there will be an estimated 27.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.83 (2.01%) than the resistance at $7.67 (10.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AMC Entertainment Holdings Inc stock A Buy?
AMC Entertainment 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.688Strong Sell Candidate Downgraded
Predicted Opening Price for AMC Entertainment Holdings Inc of Monday, October 3, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price October 3, 2022||Current price|
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About AMC Entertainment Holdings Inc
AMC Entertainment Holdings, Inc., through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.... AMC Profile
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