Midland States Bancorp Stock Forecast
Midland States Bancorp stock price fell more than -6.99% Friday closing at $22.36
(Updated on Apr 26, 2024)
The Midland States Bancorp stock price fell by -6.99% on the last day (Friday, 26th Apr 2024) from $24.04 to $22.36. During the last trading day the stock fluctuated 8.27% from a day low at $22.16 to a day high of $23.99. The price has fallen in 5 of the last 10 days and is down by -4.53% for this period. Volume has increased on the last day by 22 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, 95 thousand shares were bought and sold for approximately $2.11 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($22.45) are considered to be a "second chance" to get out. According to the fan-theory $20.41 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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MSBI Signals & Forecast
There are few to no technical positive signals at the moment. The Midland States Bancorp 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 $23.63 and $23.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -8.10%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Midland States Bancorp 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 $1.83 between high and low, or 8.27%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MSBI) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Midland States Bancorp to open at $22.84, and during the day (based on 14 day Average True Range), to move between $21.67 and $23.05, which gives a possible trading interval of +/-$0.690 (+/-3.08%) up or down from last closing price. If Midland States Bancorp takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $23.44, some $1.08 (4.83%) from the current price of $22.36, our system finds the risk reward not very attractive.
Is Midland States Bancorp stock A Buy?
Midland States Bancorp holds several negative signals and is within a 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: -3.978 Sell Candidate Unchanged
Predicted Opening Price for Midland States Bancorp of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$22.84 ( 2.13%) | $22.36 |
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 | 24.67 | 10.32 % | |
R2 | 23.97 | 7.19 % | ||
R1 | 23.54 | 5.26 % | ||
Current price: | 22.36 | |||
Support | S1 | 22.14 | -1.00 % | |
S2 | 21.70 | -2.93 % | ||
S3 | 21.00 | -6.06 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.26 | 17.44 % | |
R2 | 24.33 | 8.81 % | ||
R1 | 23.44 | 4.83 % | ||
Current price | 22.36 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
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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