The AMC Entertainment $AMC Entertainment(AMC)$ stock price gained 1.90% on Wednesday, 16th Aug 2023, rising from $3.68 to $3.75. During the last trading day the stock fluctuated 10.66% from a day low at $3.47 to a day high of $3.84. The price has risen in 7 of the last 10 days but is still down by -21.88% for this period. Volume fell on the last day by -13 million shares and in total, 56 million shares were bought and sold for approximately $210.63 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $3.38 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.45% during the next 3 months and, with a 90% probability hold a price between $3.27 and $5.59 at the end of this 3-month period.
AMC Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, August 14, 2023, and so far it has risen 10.62%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $4.44 and $4.57. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for AMC Entertainment stock
AMC Entertainment finds support from accumulated volume at $3.68 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 $0.370 between high and low, or 10.66%. For the last week, the stock has had daily average volatility of 10.38%.
Trading Expectations (AMC) For The Trading Day Of Thursday 17th
For the trading day on Thursday, 17th we expect AMC Entertainment Holdings Inc to open at $3.69, and during the day (based on 14 day Average True Range), to move between $3.29 and $4.21, which gives a possible trading interval of +/-$0.455 (+/-12.14%) 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 24.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.68 (1.87%) than the resistance at $4.40 (17.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Insiders are very negative selling more shares than they are buying in AMC Entertainment
In the last 100 trades there were 1.96 million shares bought and 68.73 million shares sold. The last trade was made 50 days ago by Antara Capital Lp who sold 1.33 million shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.
Is AMC Entertainment Holdings Inc stock A Buy?
AMC Entertainment holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
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