Atlantic American Corporation Stock Forecast

Atlantic American Corporation stock upgraded to Sell Candidate.
(Updated on Apr 24, 2024)

AAME Signals & Forecast

There are few to no technical positive signals at the moment. The Atlantic American Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.95 and $2.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -16.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Atlantic American Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Atlantic American Corporation stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0300 between high and low, or 1.60%. For the last week, the stock has had daily average volatility of 5.10%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AAME) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Atlantic American Corporation to open at $1.90, and during the day (based on 14 day Average True Range), to move between $1.76 and $2.06, which gives a possible trading interval of +/-$0.149 (+/-7.79%) up or down from last closing price. If Atlantic American Corporation takes out the full calculated possible swing range there will be an estimated 15.59% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $1.96, some $0.0500 (2.62%) from the current price of $1.91, our system finds the risk reward not very attractive.

Is Atlantic American Corporation stock A Buy?

Atlantic American Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.650 Sell Candidate Upgraded

Predicted Opening Price for Atlantic American Corporation of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.