Will AMC Entertainment Holdings Inc, (AMC) Stock Price Leave Declining Streak?

AMC stock price has gained around 1.78% during the pre market session of Wednesday.
AMC share price has slipped below 20, 50, 100 and 200-days Daily Moving Average.
Analysts believe that if AMC stock sustains above $3.78 level in the demand zone, then it might revert back with a bullish rally.

AMC share price has started showcasing its potential during the pre market session of Wednesday. AMC share price was at $4.58 and has gained around 1.78% hinting towards the sustainability of AMC shares. AMC share price needs to keep up the pace to recover itself on the opening of Wednesday’s trading session.

AMC stock price was at $4.50 and has lost 3.85% of its market capitalization during Tuesday’s trading session. Trading volume was below average and under full influence of sellers. This demonstrates that sellers have been barging the AMC shares from past few trading sessions.

AMC stock price has been slipping from higher levels over the charts and found caught up in the short sellers’ clutch. AMC shares need to sustain and revert back to retain its position above $5.00. Some analysts from an esteemed financial institution believe that the price of AMC stocks might revert back and may experience a strong bullish rally by mid 2023.

AMC shares are heading to be priced inside the demand zone and it must sustain above $3.80 support level to regain its upside trend. However, AMC share price has slipped below 20, 50, 100 and 200-days Daily Moving Average.

The Past: AMC Stock Price

The blood shedding past of AMC stocks tell the full picture behind its present fall. AMC stock price has dipped around 35.16% in the last week, while 7.02% in a month and 41.86% in a quarter. Nevertheless, AMC share price has grown during 2023 as AMC has gained 8.70% Year to Date. This shows that AMC shares hold the potential to convert the current downside trend into a successful recovery. That’s one of the reasons for AMC shares to revert back from the demand zone over the daily chart, says analysts.

Will AMC Share Regain its Upswing?

AMC stock price has been fluctuating inside the price range of $3.80 to $8.55 over the daily time frame chart. AMC share price is nearing the lower trendline of the consolidation phase and needs to revert back towards the upper price range. Technical indicators suggest the downtrend momentum of AMC stocks.

Relative Strength Index showcases the downswing of AMC stocks. RSI was at 39 and moving towards the oversold territory. MACD exhibits the downside trend of AMC share price. The MACD line is below the signal line after a negative crossover. Investors in AMC stocks need to wait until the stock price reverts back from the demand zone to reach $5.00 level.

Summary

AMC stock price has been slipping from the last five consecutive trading sessions and has lost 35% in a week. AMC share price needs to retain its position with support, as it continues to slip over the charts. AMC shares need to sustain and revert back to retain its position above $5.00. Nevertheless, AMC share price has grown during 2023 as AMC has gained 8.70% Year to Date. Technical indicators suggest the downtrend momentum of AMC stocks. Investors in AMC stocks need to wait until the stock price reverts back from the demand zone to reach $5.00 level.

Technical Levels

Support Levels: $4.30 and $3.80

Resistance Levels: $5.00 and $7.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.