#Investors often shrug off the impact of #stimulus but when fabricated demand comes into the #stockmarket everything is affected, even First Midwest Bancorp (NASDAQ: FMBI) and other stocks that might not be direct beneficiaries. They say, a rising tide lifts all boats, and multiple expansion is a natural byproduct, but it works in both ways. For FMBI we can see the impact demand changes have on price by looking at the trading plans and pivot points below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Weak | Weak | Strong |
P1 | 0 | 0 | 18.19 |
P2 | 20.58 | 20.67 | 20.55 |
P3 | 20.98 | 21.44 | 23.26 |
Long Term Trading Plans for FMBI
May 5, 2021, 4:45 am ET
The Technical Summary and Trading Plans for FMBI help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this FMBI Report.
FMBI - (Long) Support Plan
The technical summary data tells us to buy FMBI near 20.55 with an upside target of 23.26. This data also tells us to set a stop loss @ 20.49 to protect against excessive loss in case the stock begins to move against the trade. 20.55 is the first level of support below 20.62 , and by rule, any test of support is a buy signal. In this case, support 20.55 is being tested, a buy signal would exist.
FMBI - (Short) Resistance Plan
The technical summary data is suggesting a short of FMBI as it gets near 23.26 with a downside target of 20.55. We should have a stop loss in place at 23.33though. 23.26 is the first level of resistance above 20.62, and by rule, any test of resistance is a short signal. In this case, if resistance 23.26 is being tested, a short signal would exist.