Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMC Stock Price (NYSE: AMC) surges 62% in After hours trading session.</a> </li> 
 <li> <span>2</span> <a>AMC Entertainment Holdings Inc quarterly earnings are scheduled on August 10, 2023.</a> </li> 
 <li> <span>3</span> <a>AMC’s share price is expected to open a gap up in the regular session near $7.00.</a> </li> 
</ul> 
<p>AMC Stock Price (NYSE: AMC) shot up 62% in the after-hours trading session. The regular trading session on Monday is expected to open a gap up near $7.00 which will force short sellers to exit.&nbsp;</p> 
<p>AMC share price closed the previous session below the 50-day and 200-day EMA showcasing downtrend. However, the recent gap-up open is expected to reverse the short-term trend in favor of bulls.&nbsp;</p> 
<p>AMC Entertainment Holdings scheduled the next quarter earnings on August 9, 2023. Market analysts estimate an EPS of -0.036 and revenue of $1.267 Billion. If the AMC business performed well in the previous quarter then financials might improve.&nbsp;</p> 
<p>If the company succeeds to meet the estimates then the momentum might continue in stock. Else, the profit booking may trigger after Earnings.&nbsp;</p> 
<p>For the past few months, AMC <a href="https://www.thecoinrepublic.com/2023/05/26/amc-stock-price-can-it-reverse-its-three-day-consecutive-slump/" target="_blank" rel="noopener noreferrer nofollow">Stock price</a> has consolidated in the narrow range between $4.00 to $6.00. Sellers tried multiple times to break the lower range but failed. Surprisingly, the short-covering triggers and prices are expected to break the higher range.&nbsp;</p> 
<p>It closed the previous session at $4.40 with an intraday rise of 1.62%. The market capitalization stands at $2.28 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-amc-stock-sustain-the-massive-gap-strong"><strong>Will AMC Stock sustain the massive gap?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/0i8nJLGOWKG2BP8LcD0lMnan1XyYc0us76zl8nlDpH_f0JHxxOeuFwy6GsQjlfoEEwY09pOZ0xbrfYX-YQ30sp-DxR0e1P17okp3-gWPfQkcP4-hmKrPfpjoveC664F0KsieCv4XosxvktWiYE61GmM" alt="AMC Stock shot up 62%; Short triggered ahead of Earnings"> 
  <figcaption class="wp-element-caption">
    NYSE: AMC daily chart by <a href="https://www.tradingview.com/x/FBwy0dof/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>AMC Stock price breaks the $6.00 swing high hurdle with a massive volume. But the majority of the move is derived by the short sellers. If buyers are able to hold the price above $6.00 then more upward momentum is possible.&nbsp;</p> 
<p>AMC Stock might witness minor profit booking or consolidate for some more time after a gap-up. The reliability of the massive up move remains doubtful.&nbsp;</p> 
<p>However, the AMC Stock consolidated for quite a long time and formed a base near $4.00. So buyers will try their best to hold the higher levels. The technical analysis suggests AMC share price might test $8.55 and reward short-term traders.</p> 
<h3 class="wp-block-heading" id="strong-will-amc-entertainment-holdings-stock-turn-bullish-strong"><strong>Will AMC Entertainment Holdings Stock turn bullish?</strong></h3> 
<p>AMC Entertainment Holdings stock jumped from its 52-week low. On a weekly time frame, the stock price is still in a downtrend.&nbsp;</p> 
<p>The sudden rise in volatility and a spike in volume visibly indicates the speculators are active. Therefore, It is still bearish for the long term till it trades below $10.00.&nbsp;</p> 
<p>The MACD curve positively intersected with the moving average and sloped upward. It indicates bullish momentum might continue in the coming weeks. The RSI at 48 denotes neutral territory but might hit the overbought zone after the gap-up.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/05/26/amc-stock-price-can-it-reverse-its-three-day-consecutive-slump/" target="_blank" rel="noopener noreferrer nofollow">AMC Stock Price (NYSE: AMC) </a>surges 62% in the after-hours session due to a short squeeze. Quarterly Earnings of AMC Entertainment is also near which might further fuel the rally.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li><strong>Resistance levels:</strong> $8.00 and $10.00</li> 
 <li><strong>Support levels:</strong> $4.00 and $3.74</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

AMC Stock shot up 62%; Short triggered ahead of Earnings

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Thecoinrepublic.com

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