First Interstate BancSystem Stock Forecast
Evaluation of First Interstate BancSystem stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The First Interstate BancSystem stock price gained 0.186% on the last trading day (Friday, 26th Apr 2024), rising from $26.95 to $27.00. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.08% from a day low at $26.88 to a day high of $27.44. The price has risen in 9 of the last 10 days and is up by 8.7% over the past 2 weeks. Volume fell on the last day by -809 thousand shares and in total, 489 thousand shares were bought and sold for approximately $13.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $27.26 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.88% during the next 3 months and, with a 90% probability hold a price between $23.04 and $26.20 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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FIBK Signals & Forecast
The First Interstate BancSystem 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 $26.21 and $25.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.79%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for First Interstate BancSystem stock
First Interstate BancSystem finds support from accumulated volume at $26.66 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 $0.560 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 2.54%.
Since the First Interstate BancSystem has been rising for 8 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $26.08 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (FIBK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect First Interstate BancSystem to open at $27.11, and during the day (based on 14 day Average True Range), to move between $26.26 and $27.74, which gives a possible trading interval of +/-$0.739 (+/-2.74%) up or down from last closing price. If First Interstate BancSystem takes out the full calculated possible swing range there will be an estimated 5.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $27.21 (0.78%) than the support at $26.66 (1.26%), 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 Interstate BancSystem stock A Buy?
First Interstate BancSystem 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.253 Hold/Accumulate Downgraded
Predicted Opening Price for First Interstate BancSystem of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$27.11 ( 0.395%) | $27.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FIBK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.67 | 2.47 % | |
R2 | 27.45 | 1.68 % | ||
R1 | 27.32 | 1.19 % | ||
Current price: | 27.00 | |||
Support | S1 | 26.89 | -0.397 % | |
S2 | 26.76 | -0.89 % | ||
S3 | 26.55 | -1.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.60 | 2.22 % | |
R2 | 27.52 | 1.93 % | ||
R1 | 27.21 | 0.778 % | ||
Current price | 27.00 | |||
Support | S1 | 26.66 | -1.26% | |
S2 | 26.09 | -3.37% | ||
S3 | 25.21 | -6.63% |
FIBK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 26, 2024 | Feb 08, 2024 | Feb 19, 2024 | $0.470 | 1.79% |
2 | Oct 24, 2023 | Nov 03, 2023 | Nov 16, 2023 | $0.470 | 1.84% |
3 | Jul 25, 2023 | Aug 04, 2023 | Aug 17, 2023 | $0.470 | 1.76% |
4 | Apr 25, 2023 | May 05, 2023 | Aug 17, 2023 | $0.470 | 1.76% |
5 | Jan 25, 2023 | Feb 06, 2023 | Feb 17, 2023 | $0.470 | 1.27% |
FAQ
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