AMC Entertainment may rise to 6.35 - 6.83

Our pivot point stands at 3.98.

Our preference

As long as 3.98 is support look for 6.35.

Alternative scenario

The downside breakout of 3.98 would call for 3.23 and 2.78.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 4.5185 and 3.7148).

Supports and resistances

7.32 **

6.83 *

6.35 **

5.87

4.79 (USD-last)

4.27

3.98 **

3.23 *

2.78 **

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