Ameris Bancorp Forecast and Stock Analysis
Technical ABCB stock analysis for February 15, 2019.
Ameris Bancorp gained 3.66% in the last trading day, rising from $38.29 to $39.69 The price has risen in 6 of the last 10 days and is up by 5.42% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 382 828 more shares were traded than the day before. In total, 680 056 shares bought and sold for approximately $26.99 million.
Close price at the end of the last trading day (Friday, 15th Feb 2019) of the ABCB stock was $39.69. This is 3.66% more than the trading day before Thursday, 14th Feb 2019.
During day the stock fluctuated 3.67% from a day low at $38.46 to a day high of $39.87.
30 day high of the ABCB stock price was $39.87 and low was $34.53.
90 day high was $44.96 and low was $29.97.
52 week high for the Ameris Bancorp - $59.05 and low - $29.97.
Ameris Bancorp lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $40.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.33% during the next 3 months and, with 90% probability hold a price between $26.20 and $37.47 at the end of this period.
Only positive signals in the chart today. Ameris Bancorp holds buy signals from both short- and long-term moving averages. In addition, 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 $38.61 and $35.88. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 14, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 67 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at $32.16 and $32.01.
There is 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, Ameris Bancorp finds support just below today's level at $32.16. If this is broken, then the next support from accumulated volume will be at $32.01 and $31.18.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.41 (3.67%) between high and low. For the last week, the stock has had a daily average volatility of 2.16%.
Our recommended stoploss: $37.85 (-4.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.