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Shares of Atlas Financial Fall Below Previous 52-Week Low

By David Diaz

Shares of Atlas Financial (NASDAQ:AFH) traded today at $0.60, breaking its 52-week low. So far today approximately 58,000 shares have been exchanged, as compared to an average 30-day volume of 1.1 million shares.

Atlas Financial Holdings Inc., through its subsidiaries, is a specialty commercial transportation insurer. The Company insures Taxi cabs, Limousines, Paratransit and other Business Automobiles across the country.

There is potential upside of 1,900.0% for shares of Atlas Financial based on a current price of $0.60 and an average consensus analyst price target of $12.00. The stock should find initial resistance at its 50-day moving average (MA) of $1.16 and further resistance at its 200-day MA of $6.76.

In the past 52 weeks, Atlas Financial share prices have been bracketed by a current low of $0.60 and a high of $12.10 and are now at $0.60. In the last five trading sessions, the 50-day moving average (MA) has fallen 8.4% while the 200-day MA has slid 2.2%.

SmarTrend is monitoring the recent change of momentum in Atlas Financial. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Atlas Financial in search of a potential trend change.

Keywords: 52 week high/lows atlas financial

Ticker(s): AFH