AMC Entertainment is one of the oldest movie theaters chains in the country. Taken public again just a few years ago, AMC’s portfolio of theaters has benefited from a stronger dollar, higher employment rates and outstanding new movies. No wonder the movie industry just passed its previously set record for revenue. Even with movies streaming live from Netflix and HBO, there is nothing like munching on popcorn and relaxing in a dark movie theater for a couple of hours.
AMC has been a standout this year, making it our chart of the week. Its relative strength is solid, and the most recent couple of weeks saw the stock bounce off the 200 day moving average, rising about 10% as it makes its way back up to old highs. The turnover has been positive and the %R shows a nice bull re-test, a much safer area for interested options traders to jump in. We like this stock for its upside potential, but we are not ready to make our move yet.
AMC Entertainment Chart Analysis
Take a deeper dive into the chart action (NYSE: AMC) and learn how to read the technicals and my analysis as I mark up our chart of the week.
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About AMC Entertainment
AMC Entertainment Holdings, Inc., through its subsidiaries, operates as a theatrical exhibition company in the United States and internationally. As of December 31, 2014, the company owned, operated, or held interests in 348 theatres with a total of 4,960 screens primarily in North America. The company was founded in 1920 and is headquartered in Leawood, Kansas. AMC Entertainment Holdings, Inc. is a subsidiary of Dalian Wanda Group Co., Ltd.