Midland States Bancorp Stock Forecast
Green day on Tuesday for Midland States Bancorp
(Updated on Apr 23, 2024)
The Midland States Bancorp stock price gained 2.27% on the last trading day (Tuesday, 23rd Apr 2024), rising from $23.79 to $24.33. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.92% from a day low at $23.78 to a day high of $24.47. The price has been going up and down for this period, and there has been a -1.58% loss for the last 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 41 thousand shares were bought and sold for approximately $990.72 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 -8.80% during the next 3 months and, with a 90% probability hold a price between $20.59 and $23.09 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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MSBI Signals & Forecast
The Midland States Bancorp 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 $23.36 and $24.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.04%. 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 Midland States Bancorp stock
Midland States Bancorp finds support from accumulated volume at $24.32 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 $0.695 between high and low, or 2.92%. For the last week the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: $23.48 (-3.50%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (MSBI) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Midland States Bancorp to open at $24.19, and during the day (based on 14 day Average True Range), to move between $23.72 and $24.94, which gives a possible trading interval of +/-$0.610 (+/-2.51%) up or down from last closing price. If Midland States Bancorp takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.32 (0.04%) than the resistance at $24.77 (1.81%), 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
Midland States Bancorp will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.710. We will update the financials statements for Midland States Bancorp, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.84% in the first trading day after earnings release.
Is Midland States Bancorp stock A Buy?
Midland States Bancorp 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: 0.876 Hold/Accumulate Unchanged
Predicted Opening Price for Midland States Bancorp of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $24.19 ( 0.569%) | $24.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MSBI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.89 | 2.29 % | |
| R2 | 24.62 | 1.20 % | ||
| R1 | 24.46 | 0.523 % | ||
| Current price: | 24.33 | |||
| Support | S1 | 23.93 | -1.66 % | |
| S2 | 23.76 | -2.33 % | ||
| S3 | 23.50 | -3.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.46 | 12.86 % | |
| R2 | 26.26 | 7.93 % | ||
| R1 | 24.77 | 1.81 % | ||
| Current price | 24.33 | |||
| Support | S1 | 24.32 | -0.0411% | |
| S2 | 23.44 | -3.66% | ||
| S3 | 23.34 | -4.07% |
MSBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 06, 2024 | Feb 15, 2024 | Feb 23, 2024 | $0.310 | 1.28% |
| 2 | Nov 06, 2023 | Nov 16, 2023 | Nov 24, 2023 | $0.300 | 1.29% |
| 3 | Aug 01, 2023 | Aug 10, 2023 | Aug 18, 2023 | $0.300 | 1.35% |
| 4 | May 02, 2023 | May 11, 2023 | May 19, 2023 | $0.300 | 1.53% |
| 5 | Feb 07, 2023 | Feb 16, 2023 | Feb 24, 2023 | $0.300 | 1.15% |
FAQ
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