AMX Price Prediction Next Week
Technical Analysis: Based on the technical indicators, AMX is currently in a downward trend with RSI at 47.95, indicating neutral momentum. The MACD reading of -0.17 suggests bearish momentum. The stock is trading below its 20-day SMA of 14.09 and 60-day SMA of 14.75, confirming the bearish trend.
News Impact: Recent significant news affecting AMX's outlook:
- Mexico's telecom regulator unexpectedly canceled the 5G spectrum auction on January 20, 2025
- This development is likely to strengthen AMX's Telcel's market dominance
- Telcel has already rolled out 5G in primary markets and has limited immediate spectrum needs
- Given low debt levels and lack of M&A prospects, the company is expected to increase share buybacks
Price Targets: According to analyst consensus, AMX shows significant upside potential with an average target price of $20.82, representing a 43.51% increase from current levels.
Fibonacci Levels for Next Week:
- Resistance 3: $14.74
- Resistance 2: $14.45
- Resistance 1: $14.27
- Pivot: $13.98
- Support 1: $13.69
- Support 2: $13.51
- Support 3: $13.23
Price Prediction for Next Week: Based on technical indicators, news sentiment, and Fibonacci levels, AMX is expected to trade between $13.69 and $14.27. The cancellation of the 5G spectrum auction creates a positive catalyst that could push the price toward the upper resistance levels. The stock is likely to find strong support at $13.69.
Trading Recommendation: BUY Entry point: Current market price Target: $14.27 Stop loss: $13.51
The positive news about strengthened market position and potential share buybacks provides a bullish case for AMX in the short term, despite current technical weakness.
AMX Similar Chart Price Prediction
The price of AMX is predicted to go up 22.72%, based on the high correlation periods with PKG. The similarity of these two price pattern on the periods is 93.47%.
AMX
PKG
Up: 22.72%Similarity: 93.47%