AMC Entertainment Stock Forms Trading Range

AMC Entertainment Holdings, Inc. AMC reported numbers that were better than estimates. The company reported an adjusted loss of 71 cents a share, while the Street was looking for a loss of 96 cents.

Despite this, the stock is trading in the middle of the range that it has recently formed.

See Also: AMC Entertainment Q2 Earnings Takeaways: Transformational Quarter But Not 'Out Of The Woods'

The top of the range is around $40, a level that has been resistance. There have been enough shares for sale at it to keep a top on the price.

The bottom of the range has been around $29.50, which is a support level. There has been enough demand at it to put a floor under the shares.

AMC traders will be watching these levels closely. If one of them breaks, it could indicate whether the next trend will be up or down.