American National Bankshares Forecast and Stock Analysis
Technical AMNB stock analysis for April 24, 2019.
American National Bankshares fell by -0.72% in the last day from $37.25 to $36.98 The price has risen in 7 of the last 10 days and is up by 8.64% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -8 775 shares and in total 17 751 shares bought and sold for approximately $656 432.00.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the AMNB stock was $36.98. This is 0.72% less than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 2.48% from a day low at $36.32 to a day high of $37.22.
30 day high of the AMNB stock price was $37.25 and low was $32.88.
90 day high was $37.25 and low was $32.00.
52 week high for the American National Bankshares - $42.85 and low - $28.39.
American National Bankshares lies in the upper part of a wide and weak rising 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 $37.60 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 5.09% during the next 3 months and, with 90% probability hold a price between $35.33 and $39.52 at the end of this period.
American National Bankshares 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 $35.78 and $34.72. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday April 23, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Relative Strength Index (RSI)
The stock holds a RSI14 at 76 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
American National Bankshares finds support from accumulated volume at $36.35.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $35.50 (-4.00%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from pivot top found 1 days ago.)
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American National Bankshares holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.
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|AMNB $36.98 ($-0.27 -0.72%)|
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