AMC Entertainment Holdings Stock Price and Forecast: Why is AMC going to the moon?

  • AMC shares keep on squeezing, surging nearly 9% on Tuesday.
  • The meme stock is due to break key $48 resistance level.
  • The entertainment giant stock broke the key $40 level and has not looked back since.

The move keeps on going for AMC shares, which have traded perfectly from a technical setup, as retail traders show they look at charts as well as movies. The move was started by the break of $40, which had held the range for most of the summer. Some technical indicators began to perk up on the bullish side, and this created momentum to bring more buyers in to keep the move going. A short squeeze has been mentioned as one of the main reasons, but it is the continuing focus on key technical levels and how to squeeze positions that are more impressive.

Momentum creates momentum and this is certainly a feature of AMC. Having broken $40, AMC stock came back and retested the level last week but importantly held the level. A retest not only provided those who missed it a second chance to jump on board the long train, but confirms the bullishness. From a psychological point of view, buyers push the stock higher, sellers come in and push it back to the breakout level where once again more buyers step in and defend the level. This reinforces the breakout level. Now, the bullishness is firmly in place and the momentum oscillators are trending higher to confirm. 

AMC key statistics

Market Cap $22.3 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

We can see from the volume profile on the chart below why we want AMC to keep going and breach $48. The volume profile shows that, once through, it gets easier for bulls or AMC apes to keep the party bull bus going all the way to $58 where volume picks up again. The momentum oscillators are all pointing in the right direction, helping to confirm the trend and the Moving Average Convergence Divergence indicator has pushed into a bullish crossover. The level to hold is still $40, as this keeps AMC bullish. Premarket indications are good with AMC already printing at $48.30, so it seems like more attention is being gained from Tuesday's move.

The Refinitiv social media sentiment monitor below shows the spike in attention:

The daily chart below shows a dip in volume above $48 meaning a break should accelerate. Volume has also been increasing on a daily basis but has yet to hit the peak from the breakout on August 24, so we have more room for new volume to enter and keep the momentum going.


Like this article? Help us with some feedback by answering this survey:

Share: Feed news

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.

Recommended content

Recommended content

Editors’ Picks

EUR/USD clings to daily gains above 1.0650

EUR/USD clings to daily gains above 1.0650

EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.


GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.


Gold holds steady at around $2,380 following earlier spike

Gold holds steady at around $2,380 following earlier spike

Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.

Gold News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price shows no signs of directional bias while it holds above  $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research. 

Read more

Week ahead – US GDP and BoJ decision on top of next week’s agenda

Week ahead – US GDP and BoJ decision on top of next week’s agenda

US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.

Read more