AMC Entertainment Holdings Stock Forecast: Will AMC keep going up?

  • AMC stock remains strong, with a 3% gain to start the week.
  • The entertainment giant launching an impressive advertising campaign.
  • Disney (DIS) boosted AMC stock on Monday with no more streaming debuts.

AMC stock reacted well to the start of the week and an improving technical picture now that the stock has finally cleared $48. This resistance had been in place since the big bullish move on August 24, when AMC popped over 20%. Since then, the stock consolidated and formed a bullish continuation flag pattern. That set the target to break at $48 and AMC took a few attempts but eventually got the job done and broke through. That has opened the path for a move to $60, as the volume profile bars on our chart below show that the volume drops off from $50 to $60.

The price action on Monday was reassuring with a strong opening being initially hit back to test the $50 zone, where buyers were waiting in the long grass to defend the key level. In the end, AMC bottomed out at $50.30 and closed up over 3% at $51.69. Sentiment in AMC was positive from the start of the session on Monday as Disney (DIS) had announced that it would only debut the rest of its 2021 movie releases in theatres and not on streaming Disney+ until a period of exclusivity in theatres.

Ortex then added to the bullish sentiment with its latest short interest analysis which showed AMC shorts increasing as the price has broken out. This emboldened AMC apes to keep pushing and squeezing as the battle with the short-sellers continues. 

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
Short Interest 18.7% Refinitiv, 20.41 % Ortex
Average Wall Street Rating and Price Target Sell $5.44


AMC stock forecast

The flag breakout above $48 is continuing along nicely and with the volume profile thinning out, the move to $60 can be kept going if momentum remains strong. All the momentum oscillators are pointing in the right direction, with the Moving Average Convergence Divergence (MACD) crossed into a bullish signal and the Relative Strength Index (RSI) trending nicely higher, but crucially not overbought. Now that AMC has broken out, we would like to see $50 held and at worst $48.

Breaking below $48 puts AMC back into neutral. A retracement to $48 can still be used as a buy-the-dip opportunity, but a tight stop is needed, as breaking $48 would end the bullish trend. A further buy-the-dip zone occurs at $37, as there is a lot of volume at this level, so it is likely to work as strong support. Breaking $30 puts AMC into bearish territory.

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 holds above 1.1700 but the upside is limited

The EUR/USD pair flirted with 1.1750 but was unable to retain its modest intraday gains. Now trading in the 1.1720 price zone, bears retain control ahead of the US central bank monetary policy decision.


GBP/USD: Pressure mounts ahead of central banks’ announcements

The Fed and the BoE will make announcements this week. UK public inflation expectations are up for this year and the upcoming ones. GBP/USD is technically bearish in the near term, poised to retest August monthly low.


Gold: Further advances depend on the Fed

A better market mood put pressure on the American currency. The US Federal Reserve will announce its monetary policy decision on Wednesday. Gold advanced for a second day in a row, but additional gains are in doubt.

Gold News

Shiba Inu bulls can't hold SHIB from dropping to $0.000006

Shiba Inu price has fallen -28% over the past four trading sessions. Bears remain in control as bulls fail to complete a breakout above $0.000008. Bulls must hold $0.000007 to prevent a drop towards $0.000006.

Read more

Fed Preview: Three ways in which Powell could down the dollar, and none is the dot-plot

No taper now, but when? That is the main question for the Fed in its all-important September meeting. The bank buys $120B worth of bonds every month and it is set to reduce the pace at some point – the first step toward raising interest rates. 

Read more