First Mid-Illinois Bancshares stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Dec 01, 2023)
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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 $30.84, a level that may pose a second chance to hit a runner. According to fan-theory $33.53 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
FMBH Signals & Forecast
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 $31.03 and $29.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 24, 2023, and so far it has risen 21.74%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for First Mid-Illinois Bancshares stock
First Mid-Illinois Bancshares finds support from accumulated volume at $31.08 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 $1.20 between high and low, or 3.93%. For the last week, the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $30.56 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (FMBH) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect First Mid-Illinois Bancshares to open at $31.32, and during the day (based on 14 day Average True Range), to move between $31.00 and $32.40, which gives a possible trading interval of +/-$0.704 (+/-2.22%) 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 4.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $31.08, some $0.620 (1.96%) from the current price of $31.70, our system finds the risk reward attractive.
Is First Mid-Illinois Bancshares stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for First Mid-Illinois Bancshares stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.846 Open Broker AccountBuy Candidate Upgraded
Predicted Opening Price for First Mid-Illinois Bancshares of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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