Atlanticus Holdings Corp 6.125% Senior Stock Forecast

Atlanticus Holdings Corp 6.125% Senior stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)

ATLCL Signals & Forecast

The Atlanticus Holdings Corp 6.125% Senior stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $22.79 and $22.63. A breakdown below any of these levels will issue sell signals. Atlanticus Holdings Corp 6.125% Senior has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, May 31, 2024, and so far it has fallen -2.48%. 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). The stock had a Golden Star Signal on Wednesday, May 22, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Atlanticus Holdings Corp 6.125% Senior stock

Atlanticus Holdings Corp 6.125% Senior finds support from accumulated volume at $22.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0990 between high and low, or 0.435%. For the last week the stock has had daily average volatility of 0.82%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ATLCL) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Atlanticus Holdings Corporation 6.125% Senior Notes Due 2026 to open at $22.81, and during the day (based on 14 day Average True Range), to move between $22.52 and $23.12, which gives a possible trading interval of +/-$0.297 (+/-1.30%) up or down from last closing price. If Atlanticus Holdings Corporation 6.125% Senior Notes Due 2026 takes out the full calculated possible swing range there will be an estimated 2.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.90 (0.35%) than the support at $22.48 (1.49%), 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 Atlanticus Holdings Corporation 6.125% Senior Notes Due 2026 stock A Buy?

Atlanticus Holdings Corp 6.125% Senior 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. 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: -1.804 Sell Candidate Downgraded

Predicted Opening Price for Atlanticus Holdings Corporation 6.125% Senior Notes Due 2026 of Monday, June 24, 2024

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