AMSWA - American Software Tue 24'th Jan 2017
Stock analysis for Tue 24'th Jan 2017 (Updated daily)
Buy candidate since 2017-01-24
American Software Stock Analysis
American Software gained 3.42% in the last trading day, rising from USD 9.93 to USD 10.27. , 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 been going up and down for this period, and there has been a -0.68% loss for the last 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 25 267 more shares were traded than the day before. In total, 77 978 shares bought and sold for approximately USD 800 834.
American Software lies in the middle of a wide and weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.9% during the next 3 months and, with 90% probability hold a price between USD 9.51 and USD 10.94 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday December 01, 2016, which indicates further gains until a new top pivot has been found. American Software has rising volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. American Software holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 10.47. On a fall, the stock will find some support from the short-term average at USD 10.05. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold
Support & Resistance
American Software finds support from accumulated volume at USD 10.20, USD 9.93, and USD 9.91. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 10.66, USD 10.75 and USD 10.90.
The stock is about to test the resistance from accumulated volume at USD 10.66 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 0.35 (3.52%) between high and low. For the last week, the stock has had a daily average volatility of 4.06%.
Our recommended stoploss: USD 10.25 (-0.19%) ( criteria: risk and position in trend)
Several short-term signals are positive and despite the stock being in a weak falling trend we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.