Ames National Corporation Stock Forecast

Ames National Corporation stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

ATLO Signals & Forecast

The Ames National Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $19.35 and $19.62. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -5.55%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Ames National Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $18.68 and $18.44. 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, Ames National Corporation finds support just below today's level at $18.68. If this is broken, then the next support from accumulated volume will be at $18.44 and $18.13.

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 $0.295 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.81%.

Our recommended stop-loss: $18.77 (-4.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (ATLO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Ames National Corporation to open at $19.68, and during the day (based on 14 day Average True Range), to move between $19.23 and $20.25, which gives a possible trading interval of +/-$0.513 (+/-2.60%) up or down from last closing price. If Ames National Corporation takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $20.03 (1.47%) than the support at $18.68 (5.37%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.590 Hold/Accumulate Upgraded

Predicted Opening Price for Ames National Corporation of Monday, April 29, 2024

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