Atlantic American Corporation Stock Forecast

Red day on Friday for Atlantic American Corporation
(Updated on May 03, 2024)

AAME Signals & Forecast

There are mixed signals in the stock today. 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 $1.89 and $2.27. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.0053%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued.

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

Atlantic American Corporation finds support from accumulated volume at $1.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.110 between high and low, or 5.88%. For the last week, the stock has had daily average volatility of 4.62%.

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 Monday 6th

For the upcoming trading day on Monday, 6th we expect Atlantic American Corporation to open at $1.91, and during the day (based on 14 day Average True Range), to move between $1.76 and $2.00, which gives a possible trading interval of +/-$0.124 (+/-6.58%) up or down from last closing price. If Atlantic American Corporation takes out the full calculated possible swing range there will be an estimated 13.15% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.88 (0.01%) than the resistance at $1.96 (4.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Atlantic American Corporation stock A Buy?

Atlantic American Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.335 Sell Candidate Unchanged

Predicted Opening Price for Atlantic American Corporation of Monday, May 6, 2024

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