American Shipping Co ASA Stock Forecast

American Shipping Co ASA stock upgraded to Buy Candidate.
(Updated on May 16, 2024)

AMSC.OL Signals & Forecast

The American Shipping Co ASA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately kr32.41. On a fall, the stock will find some support from the long-term average at approximately kr30.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 14, 2024, and so far it has fallen -5.52%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for American Shipping Co ASA stock

On the downside, the stock finds support just below today's level from accumulated volume at kr29.15 and kr27.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, American Shipping Co ASA finds support just below today's level at kr29.15. If this is broken, then the next support from accumulated volume will be at kr27.10 and kr25.60.

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 kr1.10 between high and low, or 3.51%. For the last week, the stock has had daily average volatility of 3.41%.

Our recommended stop-loss: kr30.14 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (AMSC.OL) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect American Shipping Co ASA to open at kr31.82, and during the day (based on 14 day Average True Range), to move between kr30.54 and kr32.76, which gives a possible trading interval of +/-kr1.11 (+/-3.51%) up or down from last closing price. If American Shipping Co ASA takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr32.00 (1.11%) than the support at kr29.15 (7.90%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is American Shipping Co ASA stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for American Shipping Co ASA stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.392 Buy Candidate Upgraded

Predicted Opening Price for American Shipping Co ASA of Tuesday, May 21, 2024

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