AMC Entertainment Faces Uneven Road Ahead of Earnings Report

Anticipation Builds as AMC Set to Announce Quarterly Results – AMC Entertainment Holdings Inc AMC is gearing up to release its third-quarter earnings on Wednesday. Analysts predict a loss of 11 cents per share amid anticipated revenues of $1.33 billion.

Over the past year, AMC’s stock has plummeted by 59.91%, reflecting a drop of 28.15% year to date.

Let’s examine the current trends for AMC stock and how they align with Wall Street’s expectations.

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AMC Stock Shows Indecisive Patterns Before Q3 Report

AMC’s stock is currently stuck in a sideways trend, exhibiting slight bullish momentum that hints at some buying interest.

Chart created using Benzinga Pro

Currently trading at $4.39, AMC is near its eight-day simple moving average (SMA) of $4.43, indicating a short-term bearish outlook. However, the stock does sit above its 20-day SMA of $4.31, offering a hint of positivity.

Longer-term metrics present a more discouraging picture, with AMC below both its 50-day SMA of $4.53 and its 200-day SMA of $4.44, both suggesting a bearish trend.

The MACD reading stands at a negative 0.01, further indicating a bearish sentiment, while the RSI of 49.29 reveals that the stock is neither overbought nor oversold, suggesting potential for a shift if buyer interest increases.

Analysts Estimate 33% Upside for AMC

AMC Ratings and Summary: Currently, analysts rate AMC stock as Underperform, with a price target of $6.03. Updates from firms like Morgan Stanley, Wedbush, and Macquarie point to a potential 33.01% upside, collectively predicting a target price of $6 per share.

Recent Price Movement: On Tuesday, AMC stock closed at $4.39, reflecting a modest gain of 0.92%.

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