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AMC Entertainment’s stock price has staged a strong bull run this month, reaching its highest point since November last year.<\/span><\/p>\nIt has jumped by 165% from its lowest point this year, and is about to form a golden cross pattern, which may hint at stronger gains ahead.<\/span><\/p>\nAMC stock nears golden cross pattern<\/span><\/strong><\/p>\nTechnicals suggest that the AMC share price has more room to run, especially if the golden cross pattern forms.<\/span><\/p>\nThe daily chart shows that the spread between the 50-day and 200-day Exponential Moving Averages (EMA) has narrowed substantially, and the crossover may happen as the momentum continues.<\/span><\/p>\nThe 50-day EMA stands at $1.70, while the 200-day is at $1.96.<\/span><\/p>\nOther technical indicators point to more gains this year. For example, the Average Directional Index (ADX) has jumped to 41, its highest point since May 1 this year. It has also jumped above the key resistance level of $1.93, its highest point on April 17.<\/span><\/p>\nTherefore, the most likely AMC stock forecast is bullish, with the next level to watch being at $3.15, its highest level in October last year. A drop below the key support level of $1.93 will invalidate the bullish view.<\/span><\/p>\n<\/p>\n<\/button><\/figure>\n
AMC stock chart | Source: TradingView<\/span><\/em><\/p>\nAMC is benefiting from the Box Office comeback, but dilution is a risk<\/span><\/strong><\/p>\nThe main reason behind the ongoing AMC stock rally is the ongoing rebound of the Box Office.<\/span><\/p>\nIn a statement released earlier this month, the company said that it welcomed more than 4.2 million moviegoers to its US locations in May.<\/span><\/p>\nGlobally, the figure jumped to 25.5 million, the highest level since May 2019. This growth is a continuation of what has been happening this year, with titles like <\/span>The Super Mario Galaxy, Michael, Project Hail Mary, The Devil Wears Prada 2, <\/span><\/em>and <\/span>Pegasus <\/span><\/em>being among the most popular.<\/span><\/p>\nThis growth will likely continue as several titles are expected to be released. This includes popular names like <\/span>The Odyssey, Spider-Man: Brand New Day, Moana, <\/span><\/em>and <\/span>The Hunger Games.<\/span><\/em><\/p>\nAMC stock also rose after the company published its financial results. Its revenue rose to $1.04 billion in the first quarter from the $862 million it made last year.<\/span><\/p>\nIts adjusted EBITDA improved to $38.3 million from a loss of $57.2 million in the same quarter last year. Also, it narrowed its losses, with its net loss improving to $117.1 million from the previous $201 million.<\/span><\/p>\nAnalysts are largely optimistic about the company, with the annual revenue expected to jump by 12% this year to $5.4 billion.<\/span><\/p>\nIt is expected to jump to $5.7 billion next year, with the company expected to turn a net profit in 2027.<\/span><\/p>\nThis view likely explains why the CEO recently bought shares worth over $344k.<\/span><\/p>\nStill, the company has a major risk ahead: dilution. It recently completed its at-the-market raising of $150 million to boost its balance sheet.<\/span><\/p>\nOver time, AMC has boosted its outstanding shares from 58 million in 2023 to 605 million today.<\/span><\/p>\n<\/div>\n
AMC Entertainment’s stock price has staged a strong bull run this month, reaching its highest point since November last year.<\/p>\n","protected":false},"author":1,"featured_media":34888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_animmysite_disable_animation":false,"fifu_image_url":"https:\/\/s.tradingview.com\/static\/images\/illustrations\/news-story.jpg","fifu_image_alt":"","footnotes":""},"categories":[213],"tags":[],"class_list":["post-34887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending-sports-news"],"_links":{"self":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/posts\/34887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/comments?post=34887"}],"version-history":[{"count":0,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/posts\/34887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/media\/34888"}],"wp:attachment":[{"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/media?parent=34887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/categories?post=34887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trendifyhubusa.com\/index.php\/wp-json\/wp\/v2\/tags?post=34887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}