AmeriServ Financial Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Nov 29, 2021)
Sell candidate since 2021-11-18 Gain 1.87% PDF
The AmeriServ Financial Inc. stock price fell by -3.29% on the last day (Monday, 29th Nov 2021) from $3.95 to $3.82. and has now fallen 3 days in a row. During the day the stock fluctuated 3.40% from a day low at $3.82 to a day high of $3.95. The price has risen in 5 of the last 10 days and is up by 0.26% over the past 2 weeks. 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, 6 thousand shares were bought and sold for approximately $22.06 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AmeriServ Financial Inc. stock with a 90% probability to be traded between $3.77 and $4.07 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.
Signals & Forecast
There are few to no technical positive signals at the moment. The AmeriServ Financial Inc. 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 $3.85 and $3.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, November 24, 2021, and so far it has fallen -3.54%. 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). AmeriServ Financial Inc. 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
AmeriServ Financial Inc. finds support from accumulated volume at $3.81 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 $0.13 (3.40%) between high and low. For the last week, the stock has had a daily average volatility of 2.31%.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is AmeriServ Financial Inc. stock A Buy?
AmeriServ Financial Inc. holds several negative signals and is within a 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 Hold/Accumulate to a Sell candidate.
Current score: -2.203
Predicted Opening Price for AmeriServ Financial Inc. of Tuesday, November 30, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 30, 2021||Current price|
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