AMC Entertainment Stock Forecast
Evaluation of AMC Entertainment stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The AMC Entertainment stock price fell by -0.731% on the last day (Tuesday, 23rd Apr 2024) from $3.42 to $3.40. During the last trading day the stock fluctuated 5.65% from a day low at $3.36 to a day high of $3.55. The price has fallen in 6 of the last 10 days but is still up by 14.31% over the past 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 -11 million shares and in total, 16 million shares were bought and sold for approximately $54.25 million.
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 $3.40 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 -31.00% during the next 3 months and, with a 90% probability hold a price between $1.60 and $2.34 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.
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AMC Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The AMC Entertainment 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 $3.65. On a fall, the stock will find some support from the short-term average at $3.01. 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 Monday, April 22, 2024, and so far it has fallen -0.731%. Further fall is indicated until a new bottom pivot has been found. 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 for AMC Entertainment stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.16 and $3.14. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, AMC Entertainment finds support just below today's level at $3.16. If this is broken, then the next support from accumulated volume will be at $3.14 and $2.72.
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 $0.190 between high and low, or 5.65%. For the last week, the stock has had daily average volatility of 10.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect AMC Entertainment Holdings Inc to open at $3.44, and during the day (based on 14 day Average True Range), to move between $3.12 and $3.67, which gives a possible trading interval of +/-$0.278 (+/-8.19%) 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 16.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.42 (0.74%) than the support at $3.16 (6.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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 Hold/Accumulate to a Sell candidate.
Current score: -3.620 Sell Candidate Downgraded
Predicted Opening Price for AMC Entertainment Holdings Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.44 ( 1.18%) | $3.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.63 | 6.77 % | |
| R2 | 3.55 | 4.64 % | ||
| R1 | 3.51 | 3.32 % | ||
| Current price: | 3.40 | |||
| Support | S1 | 3.36 | -0.96 % | |
| S2 | 3.32 | -2.28 % | ||
| S3 | 3.25 | -4.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.07 | 19.88 % | |
| R2 | 3.72 | 9.57 % | ||
| R1 | 3.42 | 0.736 % | ||
| Current price | 3.40 | |||
| Support | S1 | 3.16 | -6.92% | |
| S2 | 3.14 | -7.51% | ||
| S3 | 2.72 | -19.88% |
AMC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2020 | Mar 06, 2020 | Mar 23, 2020 | $0.0300 | 0.0952% |
| 2 | Oct 25, 2019 | Nov 29, 2019 | Dec 16, 2019 | $0.200 | 0.240% |
| 3 | Aug 05, 2019 | Sep 06, 2019 | Sep 23, 2019 | $0.200 | 0.187% |
| 4 | May 06, 2019 | Jun 07, 2019 | Jun 24, 2019 | $0.200 | 0.200% |
| 5 | Feb 19, 2019 | Mar 08, 2019 | Mar 25, 2019 | $0.200 | 0.131% |
FAQ
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