First Mid-Illinois Bancshares Stock Forecast

First Mid-Illinois Bancshares stock price ended at $31.38 on Thursday, after losing 1.20%.
(Updated on Apr 25, 2024)

FMBH Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The First Mid-Illinois Bancshares stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $30.89 and $30.81. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for First Mid-Illinois Bancshares stock

First Mid-Illinois Bancshares finds support from accumulated volume at $31.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.42 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 2.83%.

Our recommended stop-loss: $30.31 (-3.39%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (FMBH) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect First Mid-Illinois Bancshares to open at $31.22, and during the day (based on 14 day Average True Range), to move between $30.54 and $32.22, which gives a possible trading interval of +/-$0.84 (+/-2.67%) up or down from last closing price. If First Mid-Illinois Bancshares takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $31.47 (0.29%) than the support at $31.20 (0.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is First Mid-Illinois Bancshares stock A Buy?

First Mid-Illinois Bancshares holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.010 Hold/Accumulate Unchanged

Predicted Opening Price for First Mid-Illinois Bancshares of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.