Ames National Corporation Stock Forecast
Stronger technical forecast for Ames National Corporation stock price after Friday trading.
(Updated on Mar 24, 2023)
The Ames National Corporation stock price gained 0.83% on the last trading day (Friday, 24th Mar 2023), rising from $20.55 to $20.72. During the last trading day the stock fluctuated 2.73% from a day low at $20.50 to a day high of $21.06. The price has fallen in 7 of the last 10 days and is down by -9.04% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $527.16 thousand.
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The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.51 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.70% during the next 3 months and, with a 90% probability hold a price between $18.73 and $21.88 at the end of this 3-month period.
ATLO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 23, 2023, and so far it has risen 0.83%. Further rise is indicated until a new top pivot has been found. Ames National Corporation 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. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ames National Corporation 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 $20.97 and $23.29. 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).
Support, Risk & Stop-loss for Ames National Corporation stock
Ames National Corporation finds support from accumulated volume at $20.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.560 between high and low, or 2.73%. For the last week, the stock has had daily average volatility of 3.03%.
Ames National Corporation is oversold on RSI14 (18). 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 (ATLO) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Ames National Corporation to open at $20.76, and during the day (based on 14 day Average True Range), to move between $20.10 and $21.34, which gives a possible trading interval of +/-$0.620 (+/-2.99%) up or down from last closing price. If Ames National Corporation takes out the full calculated possible swing range there will be an estimated 5.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.82 (0.48%) than the support at $20.55 (0.82%), 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 Ames National Corporation stock A Buy?
Ames National Corporation 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: -1.159 Open Broker Account
Sell Candidate UpgradedPredicted Opening Price for Ames National Corporation of Monday, March 27, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price March 27, 2023 | Current price |
|---|---|
| $20.76 | $20.72 (Undervalued) |
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Trading levels for ATLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.32 | 2.90 % | |
| R2 | 21.11 | 1.86 % | ||
| R1 | 20.97 | 1.23 % | ||
| Current price: | 20.72 | |||
| Support | S1 | 20.55 | -0.84 % | |
| S2 | 20.41 | -1.48 % | ||
| S3 | 20.20 | -2.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.84 | 19.88 % | |
| R2 | 24.43 | 17.91 % | ||
| R1 | 20.82 | 0.483 % | ||
| Current price | 20.72 | |||
| Support | S1 | 20.55 | -0.82% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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About Ames National Corporation
Ames National Corporation operates as a multi-bank holding company that provides banking products and services primarily in Boone, Clarke, Hancock, Marshall, Polk, Story, and Union counties in central, north-central, and south-central Iowa. The company accepts a range of deposits, including checking and savings accounts; and time deposits, such as money market accounts and certificates of deposit. It also provides loans, such as short-term and me... ATLO Profile
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