AMC shares have run up more than 20% in two days and appear on track to confirm the end of a long-term downtrend.
Shares of AMC Entertainment Holdings Inc. rallied again Wednesday, extending a recent sharp bounce that appears to have put the stock on track to break out from a long-term technical downtrend.
The movie-theater operator’s AMC stock, which was one of the original “meme” stocks, shot up as much as 11.3% intraday before pulling back to be up 3.5% in afternoon trading. That followed a 16.4% surge on Tuesday, which bucked the broader stock market’s worst day of 2023, even though AMC didn’t release any news.
Trendlines are one of the easiest ways to identify a trend. Keep in mind that while it only takes two points to draw a line, it takes three points on the line to identify a trend. Read more about trendlines. Also read: AMC CEO Adam Aron eyes 2023 hike in movie releases, touts ‘path to eventual pandemic recovery.’
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This little-known tech stock can rally more than 20%, Citi saysAnalyst Jim Suva expects the next catalyst for the stock to be its investor day on March 7.
Read more »
Luminar stock rallies more than 20% after Mercedes-Benz dealShares of Luminar Technologies Inc. skyrocketed more than 20% Wednesday after the lidar company said it expanded its deal with Mercedes-Benz AG for...
Read more »
Best Things To Do This Week In Los Angeles And SoCal: Feb. 20 - 23Check out a night of free music from the Sonic Ritual label. Listen to stories about P-22. Watch the world premiere of Treelogy. Catch the classic film The Third Man on the big screen.
Read more »
Average San Diego County gas price rises for 18th time in 20 daysThe average price has increased 21.8 cents over the past 20 days, including nine-tenths of a cent Sunday, according to figures from the AAA and Oil Price Information Service.
Read more »
Girls Ice Hockey Top 5, Feb. 20: Let the tournament fun continueA look at the latest girls hockey Top 5 for Feb. 20.
Read more »