AMC Entertainment Holdings, Inc. is an American movie theatre chain founded in Kansas City, Missouri in 1920. The AMC Entertainment has the largest movie theatre chain in the world. The value of $AMC has been reducing since June 2021 after price reached an all-time high at $394.62. The bears has pushed price lower and have given no chance to the bulls to take over. As of the close of market on Monday, August 28, 2023, AMC share price fell from $11.99, which was the opening price for the day, to $11.07, which was 10.94% drop in price, approximately 11%.
On the monthly chart, it has been a woeful month for this stock. Currently in August, it has lost 74.76% of its value. The opening price in August was $43.50 and price is currently at $11.07. The price level reached yesterday shows price hit a major support level, which is the all-time low.
On the daily chart, price is oversold, which could be an indication for a bounce. There have been a few gap downs since August 15, we might see price recovery and gap downs being closed.
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