AMC Stock May File New 52-Week Low
$AMC Entertainment(AMC)$ stock seems to be following a severe downtrend in the yearly time frame and lost 83.28% of its trading price. On September 2, 2022, AMC Entertainment Holdings, Inc. stock was trading above $78.35.
Will AMC Stock Continue to Fall and Register Fresh 52-Week Low?
At the time of publication, AMC stock was trading approximately $2 above its 52-week low. In the 52-week time frame, the highest trading price of AMC shares was $94.85, and are lowest traded at $10.72.
A major decline in the market capitalization of AMC Entertainment Holdings, Inc. is seen in 2023. At press time the total market capitalization of the company was $2.075 Billion.
AMC stock prices are reflecting negativity in all trading formats. Since the past week, a decline of 2.49% was noticed, and in the monthly time frame stock price fell around 70%.
If sellers continue their aggressive behavior then there are possibilities that AMC stock price might slip further and meet immediate support of $10.72 and following support of $10.
As per market analysts if buyers succeed in dominating sellers in the coming session then possibilities are that AMC shares might surge. The nearest resistance as per charts are $19.40 and $32.12.
The RSI curve stayed toward the oversold region and showed a negative crossover which suggests a negative outlook on the charts.
The MACD indicator showed a bearish crossover and a volatile chart structure suggests a follow-on selling will resume and the price may retest the swing of $12.
AMC Entertainment Holdings, Inc., Financial Updates
In the recent earnings, AMC reported a positive EPS of 0.009 and revenue of $1.348 Billion. The company beats the EPS estimate by 124.33% and revenue estimate by 4.75%.
The company is expected to report $1.16 Billion in third-quarter revenue and the estimated EPS is negative 0.55. In 2022, AMC Entertainment Holdings, Inc. reported 3.34% more revenue than estimated. The estimated EPS for 2022 was negative 9.55 and the reported EPS was negative 8.21.
According to TradingView, 158.059 Million AMC shares are free-floating, and the remaining 318.657k shares are closely held either by financial backers of the company or the board of members.
Technical Levels
Major Support: $10.72 and $10
Major Resistance: $19.40 and $32.12
Conclusion
AMC stock seems to be falling constantly and has lost around 70% in a month. The RSI curve stayed toward the oversold region and showed a negative crossover which suggests a negative outlook on the charts. The MACD indicator showed a bearish crossover and a volatile chart structure suggests a follow-on selling will resume and the price may retest the swing of $12.
As per analysts, if bears continued their aggressiveness then AMC stock price might register a fresh 52-week low.
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