Red day on Thursday for AMC Entertainment Holdings Inc
(Updated on September 16, 2021)
Buy or Hold candidate since 2021-08-24 Gain 4.02% PDF
The AMC Entertainment Holdings Inc stock price fell by -1.71% on the last day (Thursday, 16th Sep 2021) from $46.84 to $46.04. and has now fallen 4 days in a row. During the day the stock fluctuated 5.96% from a day low at $45.95 to a day high of $48.69. The price has been going up and down for this period, and there has been a 5.38% gain for the last 2 weeks. 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 -19 million shares and in total, 57 million shares were bought and sold for approximately $2.61 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $51.18 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.26% during the next 3 months and, with a 90% probability hold a price between $20.48 and $42.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Signals & Forecast
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 $48.28. On a fall, the stock will find some support from the long-term average at approximately $39.88. 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. 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 -10.93%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
AMC Entertainment Holdings Inc finds support from accumulated volume at $44.26 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 $2.74 between high and low, or 5.96%. For the last week, the stock has had a daily average volatility of 7.05%.
Our recommended stop-loss: $43.38 (-5.78%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Is AMC Entertainment Holdings Inc stock A Buy?
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.
Current score: 0.374
Predicted Opening Price for AMC Entertainment Holdings Inc of Friday, September 17, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price September 17, 2021||Current price|
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On September 01, 2021 "Macquarie" gave "" rating for AMC. The price target was set to $47.13+8.8%.
Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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