• AMC Entertainment Holdings, Inc. (NYSE: AMC) stays on the defensive near $5.20.
• The cinema chain operator will re-open its doors on August 20.

Shares of (NYSE: AMC) are expected to open Wednesday’s session on the back footing and adding to losses recorded at the beginning of the week in the $5.20 area.

In fact, investors appear to have second thoughts on the potential performance of the cinema operator following recent strong gains and ahead of its re-opening on August 20, all amidst rising concerns over the fast-spreading coronavirus pandemic.

AMC Stock

As of writing, (NYSE: AMC) is down 1.87% during the premarket hours and faces immediate contention at $4.77 (55-day SMA) followed by $4.35 (100-day SMA) and then $3.86 (monthly low Aug.3). On the upside, a break above $5.85 (monthly high Aug.18) would expose $6.25 (high Jun.19) and finally $7.35 (monthly high Jun.10).