Hold/Accumulate
Fri 21'st Apr 2017

VOLUME
Buy
TREND
Hold
MV LONG
Buy
MV SHORT
Buy
PIVOT
Sell
MACD
Sell
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American Software Stock Analysis

Technical stock analysis for Fri 21'st Apr 2017

Hold candidate since 2017-04-21

American Software fell by -0.91% in the last day, from USD 10.95 to USD 10.85 The price has risen in 6 of the last 10 days and is up by 3.93% over the past 2 weeks. Volume has increased in the last day by 20 807 shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 97 571 shares bought and sold for approximately USD 1.06 million.

Trend

Given the current horizontal trend you can expect American Software with 90% probability to be traded between USD 10.21 and USD 11.37 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals

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 USD 10.80 and USD 10.43. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday April 20, 2017, which indicates further falls until a new bottom pivot has been found. American Software gained volume on the last day, but on falling prices. In technical terms this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-off's".

Relative Strength Index (RSI)

RSI14 is 67 and the stock is currently not being overbought or oversold

Support & Resistance

American Software finds support from accumulated volume at USD 10.74, USD 10.44, and USD 10.28. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 11.00, USD 10.95 and USD 10.90.

The stock is about to test the resistance from accumulated volume at USD 11.00 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

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 0.27 (2.49%) between high and low. For the last week, the stock has had a daily average volatility of 2.92%.

Our recommended stoploss: USD 10.38 (-4.31%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 1 days ago.)

Evaluation

American Software 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.

Hold/Accumulate

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