Atlantic American Corporation (AAME) Forms Bearish Wedge Down Chart Pattern; Strong Momentum for Sellers

July 16, 2018 - By Lisa Delgado

Investors sentiment decreased to 0.33 in Q1 2018. Its down 2.67, from 3 in 2017Q4. It dived, as 3 investors sold Atlantic American Corporation shares while 6 reduced holdings. 1 funds opened positions while 2 raised stakes. 1.03 million shares or 1.71% less from 1.05 million shares in 2017Q4 were reported.
36,050 are owned by Shufro Rose & Co Ltd Liability Co. Blackrock Incorporated has 0% invested in Atlantic American Corporation (NASDAQ:AAME) for 15,893 shares. Moreover, California Employees Retirement has 0% invested in Atlantic American Corporation (NASDAQ:AAME) for 53,025 shares. Tower Rech Cap Ltd Liability Corp (Trc) reported 0% in Atlantic American Corporation (NASDAQ:AAME). Homrich And Berg holds 0% or 10,000 shares. Northern Corp accumulated 54,601 shares. Bridgeway Capital Mngmt accumulated 74,856 shares. Royal Retail Bank Of Canada has 1 shares for 0% of their portfolio. Dimensional Fund Advisors Ltd Partnership has invested 0% in Atlantic American Corporation (NASDAQ:AAME). Renaissance Technology Lc stated it has 0% of its portfolio in Atlantic American Corporation (NASDAQ:AAME). Wells Fargo Communication Mn has invested 0% of its portfolio in Atlantic American Corporation (NASDAQ:AAME). Savings Bank Of New York Mellon Corp invested 0% in Atlantic American Corporation (NASDAQ:AAME). Teton Advsr accumulated 20,000 shares.

The stock of Atlantic American Corporation (AAME) formed a down wedge with $2.37 target or 3.00 % below today’s $2.44 share price. The 8 months wedge indicates high risk for the $49.45 million company. If the $2.37 price target is reached, the company will be worth $1.48M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 2.19% or $0.0523 during the last trading session, reaching $2.4403. About 363 shares traded. Atlantic American Corporation (NASDAQ:AAME) has declined 30.90% since July 16, 2017 and is downtrending. It has underperformed by 43.47% the S&P500.

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. The company has market cap of $49.45 million. The firm offers property and casualty insurance products, including business automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; and inland marine and general liability products. It currently has negative earnings. It also provides surety bond coverage for school bus transportation and subdivision construction, as well as performance and payment bonds.

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