Weaker technical forecast for Farmers and Merchants Bancorp Inc as stock downgraded to Hold/Accumulate.
(Updated on Dec 07, 2021)
Buy or Hold candidate since 2021-10-19 Gain 27.40% PDF
The Farmers and Merchants Bancorp Inc stock price gained 2.00% on the last trading day (Tuesday, 7th Dec 2021), rising from $29.54 to $30.13. , and has now gained 6 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 day the stock fluctuated 5.66% from a day low at $29.22 to a day high of $30.88. The price has risen in 7 of the last 10 days and is up by 11.59% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately $678.26 thousand.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $29.19, a level that may pose a second chance to hit a runner. According to fan-theory $30.99 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Signals & Forecast
The Farmers and Merchants Bancorp Inc 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 $29.41 and $26.67. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, November 23, 2021, and so far it has risen 14.22%. 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). Farmers and Merchants Bancorp Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $27.00 and $26.53. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Farmers and Merchants Bancorp Inc finds support just below today's level at $27.00. If this is broken, then the next support from accumulated volume will be at $26.53 and $22.80.
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 $1.66 between high and low, or 5.66%. For the last week, the stock has had a daily average volatility of 3.09%.
Since the Farmers and Merchants Bancorp Inc has been rising for 6 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: $29.09 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Is Farmers and Merchants Bancorp Inc stock A Buy?
Farmers and Merchants Bancorp Inc 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: 0.000
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Farmers and Merchants Bancorp Inc of Wednesday, December 8, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 8, 2021||Current price|
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Stephens does not see either upside or downside right now giving FMAO "Equal Weight" on their last update on Oct 09, 2020. The price target was set to $22.50.
FMAO Insider Trading
|Nov 10, 2021||Buy||37 172||Vernon David P||COMMON|
|Oct 01, 2021||Buy||68||Vernon David P||COMMON|
|Aug 23, 2021||Buy||800||Leininger Edward A||COMMON|
|Aug 23, 2021||Sell||135||Leininger Edward A||COMMON|
|Aug 23, 2021||Buy||2 000||Britenriker Barbara J||COMMON|
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