Will AMC Stock Go Up From Here? AMC Stock Forecast

Key takeaways: 

• The price of AMC Entertainment Holdings (NYSE:AMC) has been in a severe decline over the past couple of months, losing -46.8% since February.
• AMC is currently changing hands at $4.54, below the 50-day and 200-day SMA. The 14-day RSI shows AMC is currently in the neutral zone.
• The price drawdown is expected to bottom out next month, with the price of AMC rebounding above its YTD high toward the end of the year.

*Price at the time of publication

AMC stock price is predicted to increase in the coming months, potentially breaking yearly resistance above $8 and retesting its year-to-date (YTD) high. While AMC has been in a clear price drawdown since February, the technical analysis and the CoinCodex price prediction algorithm forecast a bullish short- to medium-term price trajectory for AMC stock price.

In this article, we are going to examine key AMC stock price indicators and consult the algorithmically generated price forecast to see how AMC could perform in the second half of 2023.

AMC stock price technical analysis

AMC is currently trading below the 200-day simple moving average (SMA), which is usually considered a bearish signal. The last time AMC was trading above the 200-day SMA ($5.89) was in May. The price of AMC is currently below the 50-day SMA, which is considered a bearish signal as well.

TA suggests buying AMC in the price channel between $3.81 and $4.50 might be a good idea. Image source: TradingView

In addition to the SMA, the 14-day Relative Strength Indicator (RSI) – a popular tool that helps investors understand if stocks are overbought or oversold – is currently at 45, meaning that AMC is in a neutral position (neither overbought nor oversold). 

The resistance channel on the one-year AMC stock price chart currently stands between the lower resistance bound at $6.83 and the upper bound at $8.19. If the price manages to break the upper resistance above $8, AMC could see a sharp move to the top. This wouldn’t be unprecedented, as AMC traded as high as $27.50 less than 10 months ago.

The support channel on the AMC chart starts at $4.50 on the high end and at $3.81 on the lower end. If the price of AMC dips below the multi-month resistance, we could see a bigger drop toward new support levels.

Will AMC stock go up? AMC stock forecast for the end of 2023

The price of AMC stock is forecasted to surpass $18 before the end of the year.

According to our algorithmically generated stock price forecast, AMC stock is expected to see a -30% drop in the coming month, with the stock falling to $3.19. However, the bearish activity in the short-term is expected to reverse on the 3-month chart, with AMC’s price gaining +73% and reaching $7.68. 

Looking at an even longer time horizon, AMC could gain +300% by the end of the year and trade above $18 for the first time since August 2022. Unfortunately, the algorithm forecasts the price rally to get superseded by a massive drop to $4 a year from now.

The bottom line: AMC Entertainment Holdings Inc stock could go up from here

AMC is currently in a peculiar position – the price drawdown that started in February saw the stock shed nearly -50% of its value. However, the drawdown could be coming to an end, and a new price surge is expected to commence starting later this summer. Please remember that AMC is a stock that is prone to large price swings, so plan and trade accordingly.

If you are looking for more investment ideas, check our list of the best stocks to buy in June 2023. If you are interested in increasing your portfolio exposure to artificial intelligence-focused companies, check our selection of the best AI stocks this year.