AMC Entertainment may rise to 6.98 - 7.50

Our pivot point stands at 4.5.

Our preference

The upside prevails as long as 4.5 is support.

Alternative scenario

The downside breakout of 4.5 would call for 3.68 and 3.2.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 4.972 and 4.6242).

Supports and resistances

8.01 **

7.5 *

6.98 **

6.47

5.22 (USD-last)

4.82

4.5 **

3.68 *

3.2 **

Number of asterisks represents the strength of support and resistance levels.