AMC Entertainment may rise to 6.44 - 6.93

Our pivot point is at 3.97.

Our preference

As long as 3.97 is support look for 6.44.

Alternative scenario

The downside breakout of 3.97 would call for 3.22 and 2.77.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day moving average (4.9295) but above its 50 day moving average (3.8016).

Supports and resistances

7.42 **

6.93 *

6.44 **

5.96

4.71 (USD-last)

4.26

3.97 **

3.22 *

2.77 **

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