![]() In addition, approximately 1.1 million guests came to see a movie at our international theatres. ![]() In the United States alone, the company catered to 39.08 million attendants during this quarter, compared to 6.8 million the previous year, while the number of average active screens rose 50.2% to 10,099 as more venues have been successfully reopened.Īccording to the press-release: “In all, nearly 4 million guests came to an AMC in the United States to see a movie during the holiday weekend. During the three months ended 31 March, total revenues produced by the movie theatre chain experienced a significant boost at $785.7m compared to $148.3m the firm reported during the same period a year ago as attendance has continued to normalise. On 9 May, AMC reported its financial results covering the first quarter of the 2022 fiscal year. Note that any positive technical signals alone should not be considered a recommendation to trade AMC stock as macroeconomic, sector-specific and some AMC share price news may unexpectedly affect the stock’s performance.ĪMC fundamental analysis: Latest earnings Moreover, the Moving Average Convergence Divergence ( MACD) just moved above the signal line and, even though the indicator remains in negative territory, histogram readings have also turned positive in the past few sessions. This phenomenon is known as a bullish divergence and it points to an upcoming reversal in the price trend. Momentum indicators have been favouring a short-term bullish outlook, as of 6 June, as the Relative Strength Index ( RSI) was rising despite the price not moving aggressively higher. This would result in an upside potential of 100% based on 3 May’s closing price of $12.45 if that target is hit. If that happens, the price could rise to at least $25 per share to tag AMC’s 200-day simple moving average. For this to happen, the stock would have to move above the $17 level in the next few sessions. However, it is still too early to tell if the pattern will play out as expected. Double bottoms are considered bullish formations that might lead to an uptrend if the stock’s former highest high is broken. That said, a double-bottom pattern may have emerged in the past few weeks as the stock bounced off the $10 level in two separate instances. The technical analysis shows that AMC has failed to move above the 200-day simple moving average on multiple occasions since 2022 started, making lower lows. Since then, the stock has not moved anywhere near the AMC highest stock price of $72.62 a share from those days. The AMC stock market price has been on a sharp downtrend ever since the stock hit all-time highs in June 2021 amid the short and gamma squeezes led by retail traders buying short-dated derivatives en-masse to force short sellers to cover their losses. AMC stock analysis: Technical views and price drivers
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |