The post AMC Stock Price Analysis: Will AMC Stock Hold $10 After Results? appeared on BitcoinEthereumNews.com.

1 AMC stock price struggles to break out of the $12.00 hurdle. 2 The share price of AMC stock is in a strong downtrend. 3 The quarterly earnings of AMC Entertainment Holdings Inc. beat the EPS as well as revenue estimates. AMC stock price took support near $8.00 and showed a minor recovery before the earnings. While recovering, it tried to break out of the $12.00 hurdle to cover the losses of October but sellers were active and did not let the price trade above $12.00.  In the last two months, AMC stock price consolidated in the range between $8.00 to $12.00.  The short-term bullish traders tried to expand the price above the higher range for new price discovery. But prices seem to be lacking momentum in the supply zone and reverting downward.  AMC Entertainment Holdings Inc. released the quarterly earnings on November 8, 2023, after the bell. It reported an EPS of -$0.09 vs estimates are -$0.252. The reported revenue is $1.387 Billion vs $1.26 Billion estimates.  Luckily, the company succeeded in beating both EPS as well as revenue estimates. However, the stock price will react in today’s trading session.  Investors expect that a short squeeze may be visible to clean out the shorts. In the after hours trading session, AMC share price is down by 0.89%. It shows the price might not react violently in a regular session.  Will AMC Stock Price Show Pull Back in November? Source: NYSE: AMC daily chart by Tradingview AMC stock price is on the sellers’ radar and they continue to dominate on the higher levels. The chart pattern of the stock is highly bearish and no reliable signs of recovery are visible.  In the coming few days, volatility in the AMC shares may rise but until it breaks out of the $12.00…

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Filed under: News - @ November 9, 2023 11:26 pm