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- AMC stock price has been slipping continuously as sellers are on full throttle to create the shortage of AMC shares.
- AMC share price gained support from $3.75 and is finally trying to recover over the daily time frame chart.
- AMC Entertainment Holdings, Inc. had an interesting roller-coaster ride and dropped around 55% since December 2022.
AMC stock price has been declining amid the debt reduction plan that came into action. AMC shareholders have been waiting for so long for the share price to recover and soar towards its recovery phase. However, sellers have been continuously raiding the AMC stock to create a shortage in the market.
Buyers on the other hand are trying to provide decent support for AMC share price to recover a little by the end of last week’s trading session. Nevertheless, AMC Entertainment Holdings investors’ may think of a gap up by the opening of Monday’s trading session.
AMC share price was trading at $4.07 and has lost 1.69% of its market capitalization. This demonstrates that sellers are trying to pull AMC share price below $4.00 level.
AMC stock price has been declining and has dipped till 52-year low. Now AMC shares must attract more buyers in order to start its recovery phase. Meanwhile, accumulation rate can be observed over the daily time frame chart as volume change is below average by the end of last week’s trading sessions.
AMC investors need to wait for Monday’s trading session and for AMC share price to open with a gap up as some analysts predict for a gap up. However, AMC share price has slipped below 20, 50, 100 and 200-days Daily Moving Average.
AMC Stock Price Prediction 2023:
AMC stock price prediction 2023 showcases the AMC’s starting price may be $8.17 in 2023. AMC was trading at $4.07 as of the last trading session, which represents a 50% decline in price from the start of the year. The estimated AMC price for the end of 2023 is $8.88, representing a +9% year-over-year change. From today through the end of the year, the increase is +118%. We predict that $6.92 per 1 AMC will be seen in the middle of 2023. The AMC price will increase to $11.54 in the first half of 2024; in the second half, it will rise by $1.34 to complete the year at $12.88, a +216% increase over the current price.
When will AMC Return from Oversold Zone?
Technical indicators suggest the oversold condition of AMC share price. Relative Strength Index showcases that AMC stock price is trying to return from the oversold territory. However, MACD exhibits the decline of AMC stock price. The MACD line is below the signal line showcasing the selloffs of AMC shares. AMC investors need to wait for a gap up on Monday’s trading session and need to recover over the daily time frame chart.
Summary
AMC stock price has been declining amid the debt reduction plan that came into action. Meanwhile, accumulation rate can be observed over the daily time frame chart as volume change is below average by the end of last week’s trading sessions. Technical indicators suggest the oversold condition of AMC share price. AMC investors need to wait for a gap up on Monday’s trading session and need to recover over the daily time frame chart.
Technical Levels
Support Levels: $3.75 and $3.50
Resistance Levels: $5.45 and $8.60
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
