First Merchants Corporation Stock Forecast

First Merchants Corporation stock price ended at $25.00 on Thursday, after losing 0%.
(Updated on Jun 27, 2024)

FRMEP Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 1.21%. 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. The First Merchants Corporation 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 $25.00 and $25.22. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, July 13, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Thursday, July 13, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 23, 2024 and based on theory for this formation the price should fall by -1.47% to $24.63 within 7 trading days since signal was issued (Thursday, May 02, 2024).

Support, Risk & Stop-loss for First Merchants Corporation stock

First Merchants Corporation finds support from accumulated volume at $24.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.09%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FRMEP) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect First Merchants Corporation to open at $25.00, and during the day (based on 14 day Average True Range), to move between $24.76 and $25.24, which gives a possible trading interval of +/-$0.237 (+/-0.95%) up or down from last closing price. If First Merchants Corporation takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $25.04 (0.16%) than the support at $24.90 (0.40%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is First Merchants Corporation stock A Buy?

First Merchants Corporation holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.968 Sell Candidate Unchanged

Predicted Opening Price for First Merchants Corporation of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.