AMERISAFE Stock Forecast

AMERISAFE stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)

AMSF Signals & Forecast

The AMERISAFE stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $50.20 and $49.87. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -0.489%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for AMERISAFE stock

AMERISAFE finds support from accumulated volume at $50.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.610 (1.21%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: $49.06 (-3.66%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)

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

For the upcoming trading day on Thursday, 25th we expect AMERISAFE to open at $50.88, and during the day (based on 14 day Average True Range), to move between $50.07 and $51.77, which gives a possible trading interval of +/-$0.85 (+/-1.68%) up or down from last closing price. If AMERISAFE takes out the full calculated possible swing range there will be an estimated 3.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $50.53 (0.77%) than the resistance at $52.86 (3.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AMERISAFE stock A Buy?

AMERISAFE holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.183 Hold/Accumulate Downgraded

Predicted Opening Price for AMERISAFE of Thursday, April 25, 2024

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