Fri 20'th Apr 2018
AMERISAFE Stock Analysis
Technical stock analysis for Fri 20'th Apr 2018
AMERISAFE gained 0.18% in the last trading day, rising from $55.60 to $55.70 The price has risen in 6 of the last 10 days and is up by 5.59% over the past 2 weeks. Volume fell in the last day by -5 959 shares, and in total, 42 018 shares bought and sold for approximately $2.34 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
|Shorts||9.23% ( 2018-03-29 )|
AMERISAFE has broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $54.27, a level that may pose a second chance to hit a runner. According to fan-theory $58.27 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
AMERISAFE 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 $55.23 and $55.04. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday April 09, 2018, 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.
Relative Strength Index (RSI)
RSI14 is 57 and the stock is currently not being overbought or oversold
Support & Resistance
AMERISAFE finds support from accumulated volume at $55.65. On the upside the stock meets some resistance just above today's level from accumulated volume at $56.00, $56.35 and $57.75.
The stock is about to test the resistance from accumulated volume at $56.00 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 $0.50 (0.90%) between high and low. For the last week, the stock has had a daily average volatility of 1.51%.
Our recommended stoploss: $53.45 (-4.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 9 days ago.)
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AMERISAFE 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. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
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