AMC Stock Attempts To Break Higher Amid Writer's Strike Deal, Falls On Low Volume: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
AMC Entertainment Holdings, Inc (NYSE:AMC) saw a brief 2% rise on Tuesday amid news of a tentative writer’s strike deal, which is expected to benefit movie theaters as halted productions resume. However, the stock has seen decreasing volume since a 35% plunge on Sept. 6. The stock's relative strength index is at about 29%, suggesting a potential brief pop higher. The lack of volume in AMC caused the upward move to lose momentum and the stock rejected the eight-day exponential moving average (EMA).
September 26, 2023 | 6:51 pm
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AMC's stock saw a brief rise due to news of a tentative writer’s strike deal but has been experiencing decreasing volume since a significant drop on Sept. 6. The stock's relative strength index suggests a potential brief increase.
The news of a tentative writer’s strike deal led to a brief rise in AMC's stock as halted productions are expected to resume, benefiting movie theaters. However, the stock has been experiencing decreasing volume since a significant drop on Sept. 6, suggesting a larger move may be on the horizon. The stock's relative strength index is at about 29%, indicating it may be oversold and a brief increase could be expected.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100