Buy Score Rank #2906 out of #5176
Wed 26'th Jul 2017
American Software Stock Analysis
Technical stock analysis for Wed 26'th Jul 2017
Hold candidate since 2017-07-25 Gain 0.60%
American Software lies in the lower of a wide and falling trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $9.65 will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -7.92% during the next 3 months and, with 90% probability hold a price between $8.89 and $10.68 at the end of this period.
A buy signal was issued from a pivot bottom point on Friday July 21, 2017, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. American Software 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 $10.02 and $10.51. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
RSI14 is 52 and the stock is currently not being overbought or oversold
Support & Resistance
American Software finds support from accumulated volume at . On the upside the stock meets some resistance from accumulated volume at $11.00, $11.08 and $10.54.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
Our recommended stoploss: $9.47 (-5.46%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 3 days ago.)
American Software holds several negative signals and this should give a sell recommendation, but due to the general chance for a turnaround situation we recommend to hold or accumulate whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.
Your capital is at risk.