AMC Entertainment Holdings (AMC) Stock Forecast: Now that $48 has broken is $60 the target?

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  • AMC stock finally breaks and closes above $48 resistance.
  • Does this open the door for a move to $60?
  • AMC is already higher in Friday’s premarket session.

AMC shares finally did it at the fifth or sixth attempt? Who cares $48 is broken and now it is onward and upward for the apes. The volume starts to get lighter up here and that should make more gains easier to sustain. Option volume remains high in the stock and this is most likely helping fuel the rise as calls are the favourite. Yesterday’s options volume was nearly double the 30-day average and AMC already had a high concentration of options volume as it was. AMC was the second most active on Thursday in terms of options, just behind Apple according to 68% of Thursday’s AMC option volume was in calls with just 32% being put volume. We can see from our intraday chart below just how consistent the gains were throughout Thursday’s session with the stock closing near the high of the day, always a bullish sign in our view. 

AMC 15 minute chart

AMC key statistics

Market Cap $24.9 billion
Price/Sales 3
Enterprise Value $36 billion
Gross Margin -0.74
Net Margin


52 week high $72.62
52 week low $1.91
Average Wall Street Rating and Price Target Sell $5.44

AMC stock forecast

The move from AMC stock this week was certainly helped by some strong attendance data over the Labor Day weekend with AMC setting a revenue record and attendance beating pre-pandemic levels. This saw the stock once again trend heavily on social media and attract retail traders back to the stock. Breaking $48 was key therefore to maintaining momentum and attracting more buyers into AMC.

The initial break higher above $40 happened on August 24 and the move had then consolidated since. Consolidation is ok and is a continuation sign especially as AMC had formed a flag pattern. $48 was the next breakout zone. AMC took its time but now looks to be finally above here. closing above a level is much more important than an intraday break. AMC stock in Friday’s premarket already appears to be pushing higher with it trading at nearly $49. 

Breaking $48 brings the next high volume zone at nearly $60 into the picture. This is a huge momentum stock so a move above should see more and more buying via shares and options. 

Bullish above $48 with a target of $60, neutral from $48 to $40 and bearish below $40 with a target of $30.