AMC Entertainment Holdings Inc AMC is set to report third-quarter earnings Wednesday. Wall Street expects AMC to report a loss of 11 cents per share for the quarter and $1.33 billion in revenues when the company reports after market hours.
The stock is down 59.91% over the last year and 28.15% year to date.
Let’s look at what the charts indicate for AMC stock and how the stock maps against Wall Street estimates.
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AMC Stock Chart Giving No Clear Signals Ahead Of Q3 Earnings
AMC stock is treading in a relatively stagnant trend, with slight bullish momentum hinting at mild buying pressure.
Chart created using Benzinga Pro
Currently trading at $4.39, AMC hovers near its eight-day SMA (simple moving average) of $4.43, signaling a bearish outlook in the short term. AMC stock trades above its 20-day SMA of $4.31, injecting a touch of bullish sentiment.
Longer-term indicators appear less promising, with AMC stock trailing below its 50-day SMA of $4.53 and its 200-day SMA of $4.44, both offering bearish signals.
The MACD reading at a negative 0.01 leans bearish, while the RSI at 49.29 suggests the stock is neither overbought nor oversold. However, there could be a shift in sentiment if buyers step in.
AMC Analysts See 33% Upside
AMC Ratings & Consensus Estimates: The consensus analyst rating on AMC stock stands at an Underperform currently with a price target of $6.03 a share. The latest analyst ratings from Morgan Stanley, Wedbush and Macquarie suggest a 33.01% upside for AMC, with a shared price target of $6.
AMC Price Action: AMC stock closed the trading day Tuesday at $4.39, up 0.92%.
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