AMC Able To Bounce At A Key Moving Average: Technical Levels To Watch

AMC Entertainment Holdings Inc. AMC is trading higher Thursday following comments from the CEO Adam Aron.

Below is a technical look at the chart.

AMC Daily Chart Analysis

• The stock recently bounced off of the 50-day moving average (green).

• The stock is trading above the 200-day moving average (blue), indicating bullish sentiment in the stock.

• These moving averages may hold as support in the future.

Key Levels To Watch

• The $11 level previously held as resistance on the chart and potentially will in the future again.

• The $7.50 level recently held as support and potentially will again in the future.

What’s Next?

Bullish technical traders would like to see the stock build higher lows up to resistance. A break above this level with consolidation may let the stock see a further push upwards.

Bearish technical traders would like to see the stock fail to hold the support levels. They would also like to see the stock fall below the moving averages for a possible trend change.