American Software Stock Forecast
Stronger technical forecast for American Software stock price after Friday trading.
(Updated on Apr 26, 2024)
The American Software stock price gained 0.99% on the last trading day (Friday, 26th Apr 2024), rising from $10.12 to $10.22. During the last trading day the stock fluctuated 1.93% from a day low at $10.10 to a day high of $10.30. The price has fallen in 7 of the last 10 days and is down by -9.16% for this period. Volume fell on the last day by -16 thousand shares and in total, 133 thousand shares were bought and sold for approximately $1.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.12 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect American Software stock with a 90% probability to be traded between $9.98 and $11.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AMSWA Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.99%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The American Software 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 $10.41 and $11.13. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for American Software stock
American Software finds support from accumulated volume at $10.12 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.195 between high and low, or 1.93%. For the last week the stock has had daily average volatility of 1.96%.
American Software is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMSWA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect American Software to open at $10.21, and during the day (based on 14 day Average True Range), to move between $9.91 and $10.53, which gives a possible trading interval of +/-$0.307 (+/-3.00%) up or down from last closing price. If American Software takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.12 (0.98%) than the resistance at $11.20 (9.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is American Software stock A Buy?
American Software holds several negative signals and is within a 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.222 Sell Candidate Upgraded
Predicted Opening Price for American Software of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$10.21 ( 0.147%) | $10.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMSWA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.40 | 1.76 % | |
R2 | 10.33 | 1.03 % | ||
R1 | 10.28 | 0.582 % | ||
Current price: | 10.22 | |||
Support | S1 | 10.13 | -0.88 % | |
S2 | 10.08 | -1.33 % | ||
S3 | 10.01 | -2.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.49 | 12.43 % | |
R2 | 11.46 | 12.13 % | ||
R1 | 11.20 | 9.59 % | ||
Current price | 10.22 | |||
Support | S1 | 10.12 | -0.98% | |
S2 | 0 | . | ||
S3 | 0 | . |
AMSWA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 02, 2024 | May 17, 2024 | $0.110 | 1.08% |
2 | Nov 20, 2023 | Feb 01, 2024 | Feb 16, 2024 | $0.110 | 1.01% |
3 | Aug 23, 2023 | Nov 16, 2023 | Dec 01, 2023 | $0.110 | 1.08% |
4 | Jun 01, 2023 | Aug 10, 2023 | Aug 25, 2023 | $0.110 | 0.93% |
5 | Feb 22, 2023 | May 02, 2023 | May 17, 2023 | $0.110 | 0.87% |
FAQ
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