In the wake of the recent surge, AMC stock is expected to trade over $20.

For the past week, AMC stock has been trading in a range. In the meantime, AMC's stock has already risen by more than six percent in today's trading session. The price decreases of the previous two days have been erased by the present price hike. If the present trend continues, the stock price might potentially close higher today's trading session.

AMC's shares are currently on the rise as a result of the company's contentious investment in Hycroft mining. The movie theater investment in a mining firm, which was concluded last month, has sparked a lot of debate.

AMC, on the other hand, has had a few notable accomplishments this week, including allowing US customers to pay for movie tickets using Dogecoin and other cryptocurrencies using the AMC mobile app. As a result of this decision, the number of people adopting cryptocurrency is expected to rise significantly. Months after stating they were looking into using cryptocurrency to pay for movie tickets, the company's CEO, Adam Aron, made the announcement on Twitter.

amc daily chart
AMC daily Chart

They have made it easy to pay for a cinema ticket using cryptocurrency by using their mobile app. When you pick Bitpay as your payment option, you may then select the cryptocurrency you want to use in your transaction. As a result, the market's price of AMC is anticipated to rise further.

Stock Prediction by AMC

Over the course of today's trade, AMC's price rose more than six percent. Despite this, the data reveals that the cryptocurrency has experienced a 45 percent drop in price over the previous several weeks. There is a negative trend, since prices are trading under the Williams alligator indicator..

It's possible that the recent price spike is a sign of a new trend. That being the case, I anticipate AMC's stock price to rise in the days ahead. As a result, the long-term resistance level of $20.34 may be breached by the price. Even more so if today's trading session's volatility and upward trend persist

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

Follow us on Google News

Filed under

Recent Search