Farmers and Merchants Bancshares, Inc. Stock Forecast
Volatile ride for Farmers and Merchants Bancshares, Inc. stock price on Friday moving between $12.84 and $14.27
(Updated on Jun 28, 2024)
The Farmers and Merchants Bancshares, Inc. stock price fell by -4.51% on the last day (Friday, 28th Jun 2024) from $14.40 to $13.75. During the last trading day the stock fluctuated 11.14% from a day low at $12.84 to a day high of $14.27. The price has been going up and down for this period, and there has been a -4.84% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $25.37 thousand.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.67 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -17.65% during the next 3 months and, with a 90% probability hold a price between $11.26 and $11.97 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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FMFG Signals & Forecast
There are few to no technical positive signals at the moment. The Farmers and Merchants Bancshares, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.31 and $15.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -15.90%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Farmers and Merchants Bancshares, Inc. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Farmers and Merchants Bancshares, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.43 between high and low, or 11.14%. For the last week, the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: $13.16 (-4.27%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (FMFG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Farmers and Merchants Bancshares, Inc. to open at $13.62, and during the day (based on 14 day Average True Range), to move between $13.52 and $13.98, which gives a possible trading interval of +/-$0.226 (+/-1.65%) up or down from last closing price. If Farmers and Merchants Bancshares, Inc. takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $16.00, some $2.25 (16.36%) from the current price of $13.75, our system finds the risk reward not very attractive.
Is Farmers and Merchants Bancshares, Inc. stock A Buy?
Farmers and Merchants Bancshares, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
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 Bancshares, Inc. of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$13.62 ( 0.95%) | $13.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMFG
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 15.05 | 9.45% |
R2 | 14.50 | 5.48% |
R1 | 14.17 | 3.03% |
Price | 13.75 | |
S1 | 13.07 | -4.92% |
S2 | 12.74 | -7.37% |
S3 | 12.19 | -11.35% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 16.96 | 23.32% |
R2 | 16.75 | 21.82% |
R1 | 16.00 | 16.36% |
Price | 13.75 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FMFG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 20, 2024 | Jun 03, 2024 | Jun 21, 2024 | $0.330 | 2.31% |
2 | Nov 30, 2023 | Nov 30, 2023 | Dec 15, 2023 | $0.330 | 1.89% |
3 | May 15, 2023 | Jun 01, 2023 | Jun 23, 2023 | $0.330 | 1.54% |
4 | Dec 01, 2022 | Dec 01, 2022 | Dec 16, 2022 | $0.320 | 1.36% |
5 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | $0.310 | 1.45% |
FAQ
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