AMC Stock Forecast 2023: Is AMC a Buy or a Sell?

AMC Stock Forecast 2023: Is AMC a Buy or a Sell?

AMC Stock Forecast: AMC is technically marginally bullish. The 12-month AMC price target has been lowered to $4.7

AMC Stock Forecast: Performance Chart

AMC Stock Performance

  • 1 Month: +8.1%
  • 6 Months: -40.9%
  • 1 Year: -53.3%

AMC Stock Forecast for the next 12 months

Average Price Target$4.7
Wedbush$2.0
Citigroup$1.2
B. Riley Securities$11

AMC Stock Price Prediction for the next 5 years (Aggregated)

AMC Stock Price Prediction 2023 is $11.4

AMC Stock Price Prediction 2024 is $14.4

AMC Stock Price Prediction 2025 is $21.4

AMC Stock Price Prediction 2026 is $28.9

AMC Stock Price Prediction 2027 is $36.4

AMC Stock Technical Analysis (Weekly)

In mid-August 2022, AMC stock after peaking at over $16 retreated and went below $8 by the end of September 2022. After a marginal reversal over $10, the stock price crashed again and by the end of December 2022, AMC was trading marginally above $4.

AMC is currently around 85% below its 52-week high price of $34.33. The 52-week low price of AMC is $3.77.

Performance on the Last Trading Day

  • Open Price: $5.52
  • Close Price: $5.52
  • Gain/Loss: NA
  • Overall Market Cap: $2.94 B

Understanding AMC Price Prediction using the technical indicators

image 459

AMC has been trading above the 50-day and the 200-day moving averages. However, the net AMC price has now fallen below the 200-day MA. On the last trading day, no change was noticed in the AMC as compared to its 24-hour price. Initially, AMC gained but by the end of the day, AMC lost all the gains it had made.

On the above chart, the net AMC price is on a retreat. The 50-day MA is serving as a support for AMC. The first level of support for AMC is $4.71. The first resistance level for AMC is $6.65. Overall AMC is trading within the bearish zone.

The RSI for AMC is 60.98 indicating AMC is over brought. However, the RSI has declined. The chart indicates, the bulls once again trying to pull the stock price higher. The RSI is likely to reverse.

image 460

The Stoch RSI has fallen from being within the over brought territory. It has now fallen below the 14-day SMA. The sellers have started to short the stock and the indication is a sell.

The MACD chart which indicates a stock is a buy or a sell is within the bearish zone. The MACD series proper is above the 9-day EMA. The trading volume is however falling. Overall the MACD indication is a buy.

  • RSI: Hold
  • Stoch RSI: Oversold
  • MACD: Buy
  • Moving Averages: Buy
  • Overall: Buy

AMC Stock Forecast: Quarter 3 results

  • Revenue grew to $968.4 m; it is a 26.9% jump from 2021 Q3.
  • It incurred a net loss of $226.9m, an increase of 2.7% from Q3 of 2021 which is $224.2m.
  • Adjusted EBITDA has grown to a loss of $12.9m from last year’s  3rd Quarter loss amounting to $5.4m.
  • Adjusted loss per share has decreased to -0.20 from the previous year’s quarters of -0.20.
  • In 3rd quarter of 2021, free cash flow stood up at -$138.9 and it has deepened to -$278.1m.
  • AMC  has a liquidity of $895.8m, inclusive of the $211.2m undrawn capacity of the revolving credit facility. 

AMC is not expected to post a profit in 2022, 2023, or 2024.

AMC Stock Forecast Today

Overall OutlookNeutral
1. Market's WisdomPositive
1a. Market DataPartially Positive
1b. Technical RecommendationBuy
2. Crowd's WisdomPartially Negative
2a. Social Media BuzzLower
2b. Social Media SentimentNeutral

AMC Stock Forecast: Latest News

  • AMC Refinanced a loan – AMC issued senior secured notes @ 12.75% with a principal amount of $400m. With that cash, it funded the repayment of a loan of $471m from its subsidiary Odeon. This measure has brought down AMC’s loan to $143.6m.
  • Zoom partners with AMC – AMC’s partnership have unveiled a new stream of revenue. As per the company’s opinion, there is a lack of content in the market, so this type of unconventional partnership amongst companies that are in contrasting fields of work can prove to be fruitful. “AMC has an abundance of attractive theatres at centrally located venues in city after city after city, each with ample seating capacity, especially so during daytime hours on weekdays when most meetings take place,” said Adam Aron, chairman, and CEO of AMC. If this form of business becomes successful then it may broaden the horizons to stand-up comedians, and singers for live concerts at different places performing at the same time.

Also Read: Nio Stock Forecast 2022

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Vineet

Vineet

Vineet Agarwal is a trained technical analyst and avid stock trader. A graduate from a Top Technology Institute, Vineet carries out extensive technical and secondary research for this authored stock forecasts.

This site uses Akismet to reduce spam. Learn how your comment data is processed.