Bears are Losing Control Over AMC Entertainment (AMC), Here's Why It's a 'Buy' Now

The price trend for AMC Entertainment has been bearish lately and the stock has lost 27.9% over the past week. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.

While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this movie theater operator is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.