American Software Forecast and Stock Analysis
Technical AMSWA stock analysis for February 21, 2019.
American Software gained 1.91% in the last trading day, rising from $11.53 to $11.75 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 7 of the last 10 days and is up by 3.34% 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, 218 878 more shares were traded than the day before. In total, 299 217 shares bought and sold for approximately $3.52 million.
Close price at the end of the last trading day (Thursday, 21st Feb 2019) of the AMSWA stock was $11.75. This is 1.91% more than the trading day before Wednesday, 20th Feb 2019.
During day the stock fluctuated 6.98% from a day low at $11.18 to a day high of $11.96.
30 day high of the AMSWA stock price was $11.96 and low was $10.42.
90 day high was $11.96 and low was $8.99.
52 week high for the American Software - $18.94 and low - $8.99.
American Software lies in the upper part of a wide and strong 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 $12.14 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 11.72% during the next 3 months and, with 90% probability hold a price between $11.35 and $13.56 at the end of this period.
Only positive signals in the chart today. American Software 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 $11.44 and $10.94. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday February 11, 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 70 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 $10.72 and $9.60.
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, American Software finds support just below today's level at $10.72. If this is broken, then the next support from accumulated volume will be at $9.60 and $9.30.
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 $0.78 (6.98%) between high and low. For the last week, the stock has had a daily average volatility of 5.27%.
Our recommended stoploss: $11.22 (-4.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 7 days ago.)
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Evaluation: Strong Buy Candidate
American Software holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.