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- 1 AMC stock price has been struggling to sustain and leave the short sellers clutch.
- 2 AMC share price has slumped below 20, 50, 100 and 200-days Daily moving average.
- 3 AMC Entertainment Holdings Inc (NYSE: AMC) has gained 13.53% year to date hinting towards the strong recovery with a rebound.
AMC stock price started slipping from 14th June, Wednesday, and now is the time that AMC might get a rebound to escape the big shorts. AMC shares tried to accumulate the recovery momentum in the start of June but couldn’t sustain at the resistance of $5.15 and got distributed. However, some reports suggest a rebound now as AMC reaches the support zone.
AMC stock price might initiate its recovery phase as soon as it gets the required support near the $4.65 lows. Meanwhile, buyers need to come forward to push the volume in their favor.
AMC stock price was at $4.70 and has lost 1.26% during Friday’s trading session. Trading volume was above average, under the control of sellers. However, by the opening of the market on Wednesday, AMC shares might attract buyers to surge at full throttle and may provide significant returns.
AMC Stock and Rebounds – The Chronology!
AMC stock price might revert back on Wednesday according to the technical indicators. AMC shares need to attract the buyers to surge over the charts. Meanwhile, AMC share price has recovered around 1.08% last week. AMC shares have recovered around 9.30% in the last three months. Moreover, AMC shares are positive with an increase of 13.53% year to date.
Technical indicators suggest the consolidation phase of AMC share price over the daily time frame chart. Relative strength index showcases the downtrend momentum of AMC stocks. RSI was at 43 below neutrality.
MACD exhibits the sideways momentum of AMC shares. The MACD line is flat above the signal line waiting for any type of crossover. Investors in AMC stock need to wait until the buyers strike at a reasonable support zone.
Summary
AMC stock price started slipping from June 14th, Wednesday and now is the time that AMC might get a rebound to escape the big shorts. AMC shares need to attract the buyers to surge over the charts. Technical indicators suggest the consolidation phase of AMC share price over the daily time frame chart. Investors in AMC stock need to wait until the buyers strike at a reasonable support zone.
Technical Levels
Resistance Levels: $5.15 and $5.45
Support Levels:$4.65 and $4.50
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
