AMC Entertainment Holdings Inc was trading slightly lower on Thursday after Wedbush downgraded the stock from Neutral to Underperform and gave a 12-month price target of $7.50. “Ultimately the majority of retail ownership will eventually cash out and move on,” analyst Alicia Reese wrote in a note. That is yet to be seen, however, as the r/amcstock community continues to grow in members as more traders appear to join the “ape” movement. AMC is expected to print its third-quarter earnings on Monday after the closing bell and retail traders are expecting another big beat. When the theatre chain printed its second-quarter blow-out earnings on Aug. 9, the stock gapped up over 9 percent higher the following morning but closed the trading session down about 14 percent off the open. The AMC Chart On Oct. 27, AMC broke bearishly through a pennant pattern the stock has been trading in since reaching …
AMC Entertainment’s Stock Holds Strong, but Can It Bust Through This Key Pattern?
November 5, 2021
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