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- 1 AMC Entertainment Holdings, Inc. stock lost 82.28% of its trading price in 52 weeks.
- 2 At the time of publication, AMC stock was trading approximately $2 above its 52-week low.
- 3 The RSI curve stayed toward the oversold region and showed a negative crossover
AMC stock seems to be following a severe downtrend in the yearly time frame and lost 83.28% of its trading price. On September 2, 2022, AMC Entertainment Holdings, Inc. stock was trading above $78.35.
Will AMC Stock Continue to Fall and Register Fresh 52-Week Low?
At the time of publication, AMC stock was trading approximately $2 above its 52-week low. In the 52-week time frame, the highest trading price of AMC shares was $94.85, and are lowest traded at $10.72.
A major decline in the market capitalization of AMC Entertainment Holdings, Inc. is seen in 2023. At press time the total market capitalization of the company was $2.075 Billion.
AMC stock prices are reflecting negativity in all trading formats. Since the past week, a decline of 2.49% was noticed, and in the monthly time frame stock price fell around 70%.
If sellers continue their aggressive behavior then there are possibilities that AMC stock price might slip further and meet immediate support of $10.72 and following support of $10.
As per market analysts if buyers succeed in dominating sellers in the coming session then possibilities are that AMC shares might surge. The nearest resistance as per charts are $19.40 and $32.12.
The RSI curve stayed toward the oversold region and showed a negative crossover which suggests a negative outlook on the charts.
The MACD indicator showed a bearish crossover and a volatile chart structure suggests a follow-on selling will resume and the price may retest the swing of $12.
AMC Entertainment Holdings, Inc., Financial Updates
In the recent earnings, NYSE: AMC reported a positive EPS of 0.009 and revenue of $1.348 Billion. The company beats the EPS estimate by 124.33% and revenue estimate by 4.75%.
The company is expected to report $1.16 Billion in third-quarter revenue and the estimated EPS is negative 0.55. In 2022, AMC Entertainment Holdings, Inc. reported 3.34% more revenue than estimated. The estimated EPS for 2022 was negative 9.55 and the reported EPS was negative 8.21.
According to TradingView, 158.059 Million AMC shares are free-floating, and the remaining 318.657k shares are closely held either by financial backers of the company or the board of members.
Technical Levels
Major Support: $10.72 and $10
Major Resistance: $19.40 and $32.12
Conclusion
AMC stock seems to be falling constantly and has lost around 70% in a month. The RSI curve stayed toward the oversold region and showed a negative crossover which suggests a negative outlook on the charts. The MACD indicator showed a bearish crossover and a volatile chart structure suggests a follow-on selling will resume and the price may retest the swing of $12. As per analysts, if bears continued their aggressiveness then AMC stock price might register a fresh 52-week low.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
