First Mid-Illinois Bancshares Stock Forecast
First Mid-Illinois Bancshares stock price up 1.64% on Tuesday
(Updated on Apr 23, 2024)
The First Mid-Illinois Bancshares stock price gained 1.64% on the last trading day (Tuesday, 23rd Apr 2024), rising from $31.13 to $31.64. During the last trading day the stock fluctuated 0.793% from a day low at $31.51 to a day high of $31.76. The price has risen in 5 of the last 10 days and is up by 0.93% over the past 2 weeks. Volume fell on the last day by -13 thousand shares and in total, 28 thousand shares were bought and sold for approximately $900.82 thousand. 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 in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.78% during the next 3 months and, with a 90% probability hold a price between $27.96 and $31.11 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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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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $30.27 and $30.76. 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 8.06%. Further rise is indicated until a new top pivot has been found. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.250 between high and low, or 0.793%. For the last week the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: $30.56 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (FMBH) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect First Mid-Illinois Bancshares to open at $31.64, and during the day (based on 14 day Average True Range), to move between $30.83 and $32.45, which gives a possible trading interval of +/-$0.81 (+/-2.55%) 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 5.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.20 (1.39%) than the resistance at $32.37 (2.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
First Mid-Illinois Bancshares will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.86. We will update the financials statements for First Mid-Illinois Bancshares, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.06% in the first trading day after earnings release.
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: -0.568 Hold/Accumulate Unchanged
Predicted Opening Price for First Mid-Illinois Bancshares of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $31.64 ( 0.0105%) | $31.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMBH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.89 | 0.780 % | |
| R2 | 31.79 | 0.478 % | ||
| R1 | 31.73 | 0.291 % | ||
| Current price: | 31.64 | |||
| Support | S1 | 31.54 | -0.312 % | |
| S2 | 31.48 | -0.499 % | ||
| S3 | 31.39 | -0.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.61 | 6.23 % | |
| R2 | 32.68 | 3.29 % | ||
| R1 | 32.37 | 2.31 % | ||
| Current price | 31.64 | |||
| Support | S1 | 31.20 | -1.39% | |
| S2 | 30.04 | -5.06% | ||
| S3 | 29.57 | -6.54% |
FMBH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 23, 2024 | Feb 15, 2024 | Mar 01, 2024 | $0.230 | 0.764% |
| 2 | Nov 22, 2023 | Nov 22, 2023 | Dec 01, 2023 | $0.230 | 0.726% |
| 3 | Jul 25, 2023 | Aug 11, 2023 | Sep 01, 2023 | $0.230 | 0.796% |
| 4 | Apr 26, 2023 | May 16, 2023 | Jun 01, 2023 | $0.230 | 0.95% |
| 5 | Jan 24, 2023 | Feb 14, 2023 | Mar 01, 2023 | $0.230 | 0.740% |
FAQ
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