The type of other significant factors that are likely contributing to the rise in the price of AMC stock is those that are macroeconomic in character and market-wide in scope. According to YCharts, this level of short interest is the highest it has been in the preceding 12 months the previous 52-week high came in the middle of June 2022, when it was just under 22%. There is no question that AMC’s short interest is still at such a high level, 23%, which helps. Roger Hamilton, the Chief Executive Officer of Genius Group (GNS), has engaged a former Director of the FBI to investigate any illegal activities involving Genius Group shares, and he has virtually declared war on naked shorting.īecause naked short-selling is once again becoming more common, it’s conceivable that individual investors have banded together in a more concerted effort to boost optimistic sentiment. However, company fundamentals are the least probable cause of this since AMC Entertainment has not yet announced its Q4 results (earnings will likely come out in the next few days).Īccording to recent reports, discussions about the appropriateness (or lack thereof) of specific short-selling strategies have allegedly surfaced. It is tough to zero down on a specific reason for the recent rise in AMC stock price. Notably, three experts advocate a ‘hold,’ and four have opted for a ‘strong sell.’ AMC Wall Street end-of-year price prediction: Source: TradingViewīased on five analyst stock evaluations for AMC over the last three months, the average price forecast for the next year is $2.39 the target indicates a -59% downside from its current price and is lower than the Coin Price Forecast prediction.Įlsewhere, the AMC weekly gauges at finance tracking website TradingView are primarily bearish, with a summary in the ‘sell’ zone at 13, the result of oscillators also pointing towards ‘neutral’ at 9, whereas moving averages ( MA) suggest ‘strong sell’ at 12. On Wall Street, seven analysts gave the stock a ‘sell’ consensus rating. This zone is formed by a combination of multiple trend lines. In comparison, one important support area goes from $5.47 to $5.53. On the daily time frame, resistance at $6.81 is located from a horizontal line. Source: FinboldĪ resistance zone ranges from $6.17 to $6.19, formed by combining multiple trend lines in various time frames. In the last month, AMC has been trading in the $3.91 – $7.33 range, which is quite wide, and it is currently trading in the middle of this range, so some resistance may be found above. So this is evolving in the right direction, but it may need some more time to turn this trend around.
The short-term trend for AMC is positive, while the long-term trend is still negative. Volume has been considerably higher in the last couple of days, which is what traders like to see during a strong move up.
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