Atlantic American Corporation Stock Forecast
A very red day for Atlantic American Corporation stock price after a -6.66% fall in the Tuesday trading session
(Updated on Jul 02, 2024)
The Atlantic American Corporation stock price fell by -6.66% on the last day (Tuesday, 2nd Jul 2024) from $1.69 to $1.58. During the last trading day the stock fluctuated 3.80% from a day low at $1.58 to a day high of $1.64. The price has fallen in 4 of the last 10 days and is down by -16.84% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately $4.87 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.95% during the next 3 months and, with a 90% probability hold a price between $1.16 and $1.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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 $1.67 and $1.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -16.84%. 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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0600 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 4.59%.
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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Atlantic American Corporation to open at $1.60, and during the day (based on 14 day Average True Range), to move between $1.49 and $1.67, which gives a possible trading interval of +/-$0.0919 (+/-5.81%) up or down from last closing price. If Atlantic American Corporation takes out the full calculated possible swing range there will be an estimated 11.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $1.69, some $0.110 (6.96%) from the current price of $1.58, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.998 Strong Sell Candidate Downgraded
Predicted Opening Price for Atlantic American Corporation of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$1.60 ( 1.27%) | $1.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAME
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.66 | 5.06% |
R2 | 1.64 | 3.61% |
R1 | 1.62 | 2.72% |
Price | 1.58 | |
S1 | 1.58 | -0.185% |
S2 | 1.56 | -1.08% |
S3 | 1.54 | -2.53% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.96 | 24.05% |
R2 | 1.74 | 10.13% |
R1 | 1.69 | 6.96% |
Price | 1.58 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
AAME Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 11, 2024 | Apr 26, 2024 | $0.0200 | 1.02% |
2 | Aug 08, 2023 | Aug 21, 2023 | Sep 12, 2023 | $0.0200 | 1.06% |
3 | Mar 25, 2022 | Apr 12, 2022 | Apr 27, 2022 | $0.0200 | 0.639% |
4 | Mar 23, 2021 | Apr 12, 2021 | Apr 27, 2021 | $0.0200 | 0.498% |
5 | Apr 01, 2019 | Apr 09, 2019 | Apr 24, 2019 | $0.0200 | 0.82% |
FAQ
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