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Amerisafe (AMSF) Reaches Initial Resistance Level, Watch for 0.76% Potential Upside Continuation

Written on Tue, 07/27/2010 - 9:42am
By Chip Brian

SmarTrend has detected shares of Amerisafe (NASDAQ:AMSF) have bullishly opened above the pivot of $18.28 today and have reached the first resistance level of $18.70.
We are watching for a cross of the next upside pivot targets of $18.92 and $19.56. Also, the shares should find initial support at the 50-day moving average of $17.53 and further support at the 200-day moving average of $17.34.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Amerisafe on July 07, 2010 at $17.16. Since the call, the stock has fallen -9.4%.

Keywords: amerisafe pivot points

Ticker(s): AMSF

Contact Chip Brian



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