AMC Entertainment Holdings Inc. (NYSE: AMC) stock is showing bearish momentum, according to an analysis of the weekly timescale, with lower highs being formed since the price hit a high of $44.61 in June 2021. Since its peak, the stock price has dropped by a staggering 91%.
AMC Entertainment Holdings Inc. (NYSE: AMC) is currently consolidating near support around $3.62 and the price action is descending in a triangle pattern. This signifies that the stock may continue to fall in the future. The price structure of AMC entertainment holding (AMC) is negative and buyers seem to be not taking an interest in making a position.
The one-year growth of the AMC Entertainment Holdings Inc. (AMC) stock is -73%. This signifies that the stock is highly underperforming right now and showing a negative result.
However, if it breaks the upper resistance level further trend reversal can be seen. It is not advisable to take entry before the breakout.
The price is trading below the 5-day, 100-day, and 200 EMA on the weekly chart. It shows that the bears are in charge and that there is selling pressure on the market. There will be substantial opposition from the 200 EMA. If the price doesn’t break above the indicator, it will keep falling.
The RSI indicator is at 39.45 right now. The market is showing a downward trend. Prices could fall below the 30 level. Also, the RSI line is below the SMA line which indicates a weak momentum.
The MACD line and the signal line are both below the zero line, and there is a red histogram on the MACD indicator. This alignment indicates a strong falling momentum and the price might fall in the near future.
A dip in buyer interest is caused by the stock volume of AMC Entertainment Holdings Inc. (AMC), which might mean that the stock price will drop.
The analysis makes it clear that the stock price of AMC Entertainment Holdings Inc. (NYSE: AMC) is showing strong indications of a future fall. Multiple indications are also pointing to the stock’s weak momentum, which raises the possibility of a bearish movement in the near future.
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.
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