Buy Score Rank #2393 out of #5176
Fri 18'th Aug 2017
AMERISAFE Stock Analysis
Technical stock analysis for Fri 18'th Aug 2017
Sell candidate since 2017-08-15 Loss -2.29%
AMERISAFE has broken the wide and weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $55.48. A reaction back to this level may hold a second chance to get out before further falls.
A buy signal was issued from a pivot bottom point on Thursday August 17, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. AMERISAFE holds sales signals from both short- and long-term moving averages. In addition, there is a general sales 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 $56.43 and $56.70. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
RSI14 is 34 and the stock is currently not being overbought or oversold
Support & Resistance
AMERISAFE finds support from accumulated volume at $55.05. On the upside the stock meets some resistance just above today's level from accumulated volume at $55.80, $55.90 and $57.75.
The stock is about to test the resistance from accumulated volume at $55.80 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $0.37 (0.67%) between high and low. For the last week, the stock has had a daily average volatility of 1.11%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
The stock stock holds several negative signals and despite the positive trend we believe AMERISAFE will perform weak in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.