First Mid-Illinois Bancshares Stock Forecast

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).

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, October 24, 2023 with a target of $28.24. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

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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 Account

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