AMC Entertainment stock now closes the week up +10% after hitting new record lows — shares continue to fight for the $4 range.
Despite the stock being on a significant downturn this year, market signal are pointing towards a possible reversal.
If price is able to bounce from the $4.30 range, then the stock has a strong probability of continuing its short-term uptrend.
A break below this range may result in AMC Entertainment stock retesting support at $4.21.
Conversely, a break above $4.40 will test buyers’ strength in the $4.50 range.
CEO Adam Aron blames the pandemic for the company’s current stock price.
“So painful: 4 years after Covid the industrywide box office is still ludicrously anemic & AMC stock has slid to $4.48,” the CEO posted on X, formerly known as Twitter.
“Difficult to think about anything other than guiding AMC back in these challenging times.”
A week later the CEO said in a tweet that the actors/writers strikes are to blame for the slower 2024 box office.
“Media scoffed at my Embiid tweet, but it’s all true.
AMC’s share price is so frustrating.
The 2023 actors/writers strikes have ruined the early 2024 box office.
Almost all I think about is rebuilding AMC.”
The cinema company will report its fourth quarter earnings on Wednesday, February 28th.
Analysts expect AMC to revert back to unprofitability with a GAAP EPS loss of 64 cents.
However, the company has a knack at beating Wall Street expectations and for surprising legacy media.
Based on 7 Wall Street analysts offering 12 month price targets for AMC Entertainment in the last 3 months, the average price target is $7.75 with a high forecast of $12.00 and a low forecast of $5.00, per TipRanks.
The average price target represents a 90.42% change from the price of $4.07.
AMC Entertainment stock is trading at $4.38 at the time of this publication.
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An eToro practice account, also known as a demo account, is a valuable tool for anyone interested in trading financial markets.
With a practice account, traders can test out different strategies and gain experience without risking any real money.
In this article, we will explore the benefits of using an eToro practice account, how to set one up, and some tips for making the most out of it.
Benefits of Using a Trading Practice Account
The benefits of using an eToro practice account are numerous.
Firstly, it allows traders to test out different strategies and see how they perform in the market without risking any real money.
This is important because it allows traders to make mistakes and learn from them without incurring any financial loss.
Additionally, a practice account can help traders become more familiar with the eToro platform and its features, such as the different types of orders and charting tools available.
Another benefit of a practice account is that it allows traders to practice their risk management skills.
This is important because risk management is a crucial aspect of trading, and it is essential for traders to be able to manage their risk effectively in order to be successful.
A practice account enables traders to test out different risk management strategies and see how they perform in the market.
To set up an eToro practice account, traders need to create a free account on eToro’s website.
Once the account is created, traders can access the practice account by clicking on the “Practice” button on the top right corner of the eToro trading platform.
The practice account will come with a virtual balance of $100,000, which traders can use to practice trading.
Which Markets Can I Trade with an eToro Demo Account?
An eToro demo account will give you access to trade the following:
Stock market
Crypto market
Commodities market
Currencies
Indices
ETFs
Stock Market: trade stocks such as the SPY, Tesla, Apple, the Nasdaq, and many more.
Crypto Market: trade crypto such as Bitcoin, Ethereum, BNB, Cardano, and more.
Commodities: You can even trade commodities such as Gold, Silver, Oil, and even Wheat!
The number of markets you can trade with the eToro practice account is one of its coolest benefits.
One that many other trading accounts don’t have the capabilities of doing.
Let’s now look at some great tips for trading on a demo account you may find extremely useful.
Tips for Trading on an eToro Demo Account
Once the practice account is set up, traders can start experimenting with different strategies and testing out different trades.
It’s important to remember that the practice account is not a simulation and the market conditions, spreads and other parameters are real-time (another benefit).
One important tip for making the most out of an eToro practice account is to keep a trading journal.
This is a record of all the trades that you make, including the reasons why you made them and the outcome.
Keeping a trading journal can help traders identify patterns in their trading and make more informed decisions in the future.
Another tip is to make use of the eToro social trading feature, which allows traders to follow and copy the trades of successful traders.
By following and copying the trades of successful traders, traders can learn from their strategies and gain valuable insights into the market.
Lastly, it’s important to remember that the purpose of a practice account is to practice and gain experience, not to make quick profits.
It’s important to approach trading with a long-term mindset, and not to get discouraged if things don’t go as planned.
A practice account will help you develop not just the skills you need to succeed in any market but also the discipline and grit it takes to win.
Closing Thoughts on eToro Practice Account
In conclusion, an eToro practice account is a valuable tool for anyone interested in trading financial markets.
It allows traders to test out different strategies and gain experience without risking any real money.
By setting up a practice account, keeping a trading journal, making use of the eToro social trading feature, and approaching trading with a long-term mindset, traders can make the most out of their practice account and become successful traders in the long run.
If you enjoyed this article, share it on your social media to help other like-minded people who also want to succeed as traders.
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Why options trading?
Options trading allows you to make money at will, no matter if the price of a stock is on an upwards or downwards trend.
Differentiating calls vs puts is going to help you identify which strategy will best suit you as a trader.
While some traders use one or the other, many traders also use both strategies in different plays.
Trading options isn’t as risky as most people might initially think it is.
For starters, buying a call or put option means you can only lose what you invest in.
Another pro to trading options is you can earn money every day, or every week if your margin account has less than $25,000.
New options traders will find you do not need a lot of money to begin trading options.
To get started, you’ll need to open an options trading account and you can fund it with a few hundred dollars or less for starters when learning how to trade.
Reason why you shouldn’t limit yourself to a 9-5
A 9-5 might feel like you have some sense of security, but the reality is a 9-5 is never truly 100% secured.
Learning new skills will allow you to increase your income outside your 9-5 without having to take the risks of entrepreneurship.
Two of my startups failed while I was employed, the third one wasn’t scalable, and finally my first real business has been growing since 2020.
But even then, I knew that I didn’t just want to earn money per project.
I asked myself, “how can I earn money on a regular basis?”
That’s when I began to study options trading before actually committing to making my first trade.
The hardest part for me was taking action after I had digested the knowledge on how to make my first trade.
But let me tell you, once I made my first trade, I got a rush.
Because I wanted to do it for so long and I was finally doing it.
I had a strategy in mind I always thought of using and I finally began putting it to work.
I made gains on my first trade, gains on my second, and lost a little on my third.
But by my sixth trade, I was up 10.57%.
If you’re a long-term investor you’re lucky to see these gains by the end of the year.
Here’s why these gains were so important
If you’re thinking to yourself, what’s so significant about +10%?
Well, you’re missing the macro vision here.
Think about how often you get a raise at work, are you even in a position to get a raise at work?
Imagine you getting paid 10% more one day at work, that be great wouldn’t it be?
Now let’s break down how much 10% is when comparing it to a few different brackets when trading options.
10% gains on $200 is $20 more per day / additional $600 per month
10% gains on $500 is $50 more per day / additional $1,500 per month
And 10% gains on $1,000 is $100 more per day / additional $3,000 per month
Now that’s a lot better, right?
If you are able to make $1 trading options then you can make $10 trading options and $100, and so on.
And while not every trade will be a 10% gain day, some will be bigger days and some less.
This is where strategy and due diligence will play a big part in your success rate.
I break down the differences in this article and make it very easy for beginners to understand how they work.
Call options are bullish bets a stock will go up while put options are a bearish bet a stock will go down.
You will also want to familiarize yourself with the meanings of OTM (out the money), ITM (in the money), and ATM (at the money), also explained in this same article.
And lastly, you will need to use a broker that allows you to trade options.
Webull has to be the best platform to trade options as it has one of the easiest navigation layouts in the game.
NOTE: you will need to open a margin account and not a cash account to trade options with Webull.
If you’re part of the community newsletter, you received an email regarding a new 3-part video options trading series I have coming very soon.
I’ve completed Part 1 and Part 2 already and will be publishing a video on my personal day-trading strategy in August as Part 3.
I show you the basics; how to buy a ‘call’ option and ‘put’ option step-by-step during a real-life trade.
I will wrap up the third video with the trading strategies that I personally use that no one else is talking about.
Some of you caught the clip I posted on my IG story this morning on calls that printed from CEI.
This 3-part video series will be made available in our private community if you’re interested in learning more about trading options.
Here’s what happens when you trade options
You gain control of your finances
A confidence emerges that was previously dormant
You unlock the ability to multiply your money at will
Something clicks when you realize that you can literally turn money into more money without relying on an employer.
Those of you reading this who already trade options know exactly what I mean.
By the end of my course, most of you will be able to wake up every morning and make a trade that will yield gains.
Also, don’t forget to share this article on social media.
Let’s get started!
#1. Write a Financial Plan with Intention
One of the most important things you can do right now is to begin writing a financial plan with intention.
The intention has to be there.
What are your financial goals?
What are your income goals?
Journal them and create a plan on how to make those visions become a reality.
Perhaps you’re looking forward to saving your first $1,000, your first $10,000, or want to hit your first every $100,000+ in capital.
The best way to start that journey is to write it down as a plan first.
Identify what it’s going to take, and the rest will follow through.
#2. Practice or Learn New Skills Now
If part of your plan involves earning more money for 2023 and you’ve identified that you’ll have to take on a whole new industry or develop a new set of skills, start now.
The only way we grow is by learning, and unfortunately there’s no shortcut for it.
You can learn new skills such as copywriting, public speaking, trading, graphic designing, website creation, sales, marketing, branding, etc.
Learning is painful because it’s slow and often times people put learning something new on the back burner to not start over again.
But the truth is you’re not starting all over.
You’re merely making yourself more valuable by elevating your standards.
If you want to make more money in 2023, chances are you’re going to have to do something different the new year than you did this year.
Remember, degrees don’t make you money, skills do.
#3. Solve Problems for Other People
This can be in the form of an actual business venture, or an educational or informational startup, such as an online business (blog, podcast, etc.).
You know this and I know this, there are people making a sh*t ton of money either online or through a traditional business model.
What these individuals are doing is they’re simply solving problems for other people in a particular community or niche industry.
Can you think of a way you can serve people in a manner that will solve a problem for them?
Whether their problem is they’re in the area and they’re hungry, or they don’t know how to dress themselves properly for a specific function, or they don’t know the basics of proper car maintenance.
There is something you know that can solve the problem for someone else whether that be physically or through an online platform.