Weaker technical forecast for American National Bankshares as stock downgraded to Sell Candidate.
(Updated on Dec 03, 2021)
Sell candidate since 2021-12-03 PDF
The American National Bankshares stock price fell by -1.77% on the last day (Friday, 3rd Dec 2021) from $37.84 to $37.17. During the day the stock fluctuated 3.52% from a day low at $36.75 to a day high of $38.04. The price has fallen in 7 of the last 10 days and is down by -3.7% for this period. Volume has increased on the last day by 6 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, 14 thousand shares were bought and sold for approximately $528.19 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $36.96 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.41% during the next 3 months and, with a 90% probability hold a price between $45.61 and $51.23 at the end of this 3-month period.
Signals & Forecast
There are few to no technical positive signals at the moment. The American National Bankshares 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 $37.32 and $37.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, November 05, 2021, and so far it has fallen -4.94%. 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). American National Bankshares 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".
Support, Risk & Stop-loss
American National Bankshares finds support from accumulated volume at $37.08 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 $1.29 (3.52%) between high and low. For the last week, the stock has had a daily average volatility of 3.35%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is American National Bankshares stock A Buy?
The American National Bankshares stock holds several negative signals and despite the positive trend, we believe American National Bankshares will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -3.024
Predicted Opening Price for American National Bankshares of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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On Oct 22, 2021 "Stephens" gave "$36.50 - $39.50" rating for AMNB. The price target was set to $34.90+0.2%.
AMNB Insider Trading
|Nov 29, 2021||Buy||432||Pleasant Dan Miller||American National Bankshares Inc.|
|Nov 29, 2021||Buy||405||Still Susan King||American National Bankshares Inc.|
|Nov 29, 2021||Buy||405||Shephard Joel R||American National Bankshares Inc.|
|Nov 29, 2021||Buy||405||Ronda Penn||American National Bankshares Inc.|
|Nov 29, 2021||Buy||459||Love John H||American National Bankshares Inc.|
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