AMSF - AMERISAFE Fri 24'th Mar 2017
AMERISAFE Stock Analysis
Stock analysis for Fri 24'th Mar 2017 (Updated daily) Buy candidate since 2017-03-23
No changes to the price of AMERISAFE in the last trading day. The price has risen in 5 of the last 10 days days, but is still down by -0.62% for this period.
AMERISAFE lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at USD 62.76 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.6% during the next 3 months and, with 90% probability hold a price between USD 64.40 and USD 70.25 at the end of this period.
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 USD 64.55 and USD 64.71. A break-up above any of these levels will issue buy signals. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday March 22, 2017, which indicates further gains until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
AMERISAFE finds support from accumulated volume at USD 63.40, USD 63.30, and USD 63.05. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 64.75, USD 66.45 and USD 64.55.
The stock is about to test the resistance from accumulated volume at USD 64.75 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 USD 1.00 (1.58%) between high and low. For the last week, the stock has had a daily average volatility of 3.25%.
Our recommended stoploss: USD 61.35 (-3.76%) ( criteria: risk and closeness to support from trendline.)
Several of the signals/indicators are negative, and we believe this will hoave some effect on the development for the next days and possible weeks. However, for the entire period will still think today's level holds possible buying-opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.