AMC Entertainment Holdings Stock Forecast: Bulls looking to $53.20 targets

  • AMC breaks $50 for the first time since July.
  • The entertainment giant surges despite major indices falling on Friday.
  • A new advertising campaign kicks off featuring Nicole Kidman.

Update, Tokyo: AMC added a further 3% on Monday and the stock is elevated on the back of  Shang-Chi's continued strong box office momentum. Disney's announcement to debut the rest of its 2021 films exclusively in theatres has been a strong benefit for investors also.

The latest readings of US inflation data will be the next fundamental from an economic standpoint as traders weigh the risks to stocks associated with timings of the Federal Reserve's tapering time frame. 

From a technical standpoint, the -272% Fibonacci retracement of the current correction falls in at $53.20 as an upside target from the close of $51.69 and the day's range between $50.35 and $52.79 the highs. On the downside, $51.10/50 is a support area guarding $49.50 and $48.30 daily highs.

End of update

AMC stock put in a very strong session on Friday, rallying and closing above $50 for the first time since July. The stock has been strong since August 24, when it broke out of its range trading zone and pushed into the $40s. Since then, AMC consolidated and eventually broke the next key resistance at $48, which attracted in more buyers with a Fear Of Missing Out (FOMO) effect helping the stock.

This FOMO effect may be written off by many as a new "fad" – or symptomatic of younger retail traders – but momentum has always been followed closely even by seasoned market watchers. Fear of missing out is a human trait. Every day mainstream publications and news channels will carry the biggest stock market winners and losers, this is momentum. Options volume remains high, with calls being nearly 70% of Friday's options volume in AMC up from 68% on Thursday.

Further good news came over the weekend with Disney (DIS) announcing that the rest of its slated film releases for 2021 will debut exclusively in cinema theaters and not online. Disney+ will show the films after a certain exclusive period in cinemas. Streaming is obviously a major threat to cinemas and recent developments from Disney had appeared to indicate that cinema and streaming releases would happen simultaneously. This is surely another positive for AMC in our view.

AMC 15 minute chart


AMC key statistics

Market Cap $25.7 billion
Price/Sales 3
Enterprise Value $36 billion
Gross Margin -0.74
Net Margin


52 week high $72.62
52 week low $1.91
Average Wall Street Rating and Price Target Sell $5.44

AMC stock forecast

The flag breakout we can see below continues perfectly. Breaking $48 was taking time and beginning to make us doubt the move, but the AMC apes got the job done eventually. With option volume increasing and call options being 70% on Friday's volume it looks like the move is set to continue. The Disney news mentioned above is definitely bullish for AMC and Nicole Kidman is now going to be on the case helping to keep the profile high. 

The next target is near $60 as the volume is relatively light until that zone. This is the consolidation zone from June. The momentum oscillators are trending higher with price and so confirming the move. AMC needs to hold above $48 and can even retest it and remain bullish. 

Bullish above $48, neutral $48 to $40 and bearish below $40. Buy-the-dip zones at $48 and $46 from the 9-day moving average.  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.


GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 


XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more