When First Midwest Bancorp (FMBI) Moves Investors should Listen

December 26, 2021, 21:15 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  First Midwest Bancorp (NASDAQ: FMBI) report below is a real world example. Included are trading plans for FMBI, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for FMBI

• Buy FMBI slightly over 20.09 target 22.32 stop loss @ 20.03 Details

The technical summary data tells us to buy FMBI near 20.09 with an upside target of 22.32. This data also tells us to set a stop loss @ 20.03 to protect against excessive loss in case the stock begins to move against the trade. 20.09 is the first level of support below 20.14 , and by rule, any test of support is a buy signal. In this case, support 20.09 is being tested, a buy signal would exist.

• Short FMBI under 22.32, target 20.09, stop loss @ 22.38 Details

The technical summary data is suggesting a short of FMBI as it gets near 22.32 with a downside target of 20.09. We should have a stop loss in place at 22.38though. 22.32 is the first level of resistance above 20.14, and by rule, any test of resistance is a short signal. In this case, if resistance 22.32 is being tested, a short signal would exist.

Swing Trading Plans for FMBI

• Buy FMBI slightly over 22.32, target n/a, Stop Loss @ 22.26 Details

If 22.32 begins to break higher, the technical summary data tells us to buy FMBI just slightly over 22.32, with an upside target of n/a. The data also tells us to set a stop loss @ 22.26 in case the stock turns against the trade. 22.32 is the first level of resistance above 20.14, and by rule, any break above resistance is a buy signal. In this case, 22.32, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FMBI near 22.32, target 20.09, Stop Loss @ 22.38. Details

The technical summary data is suggesting a short of FMBI if it tests 22.32 with a downside target of 20.09. We should have a stop loss in place at 22.38 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 22.32, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FMBI

• Buy FMBI slightly over 20.26, target 22.32, Stop Loss @ 20.21 Details

If 20.26 begins to break higher, the technical summary data tells us to buy FMBI just slightly over 20.26, with an upside target of 22.32. The data also tells us to set a stop loss @ 20.21 in case the stock turns against the trade. 20.26 is the first level of resistance above 20.14, and by rule, any break above resistance is a buy signal. In this case, 20.26, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FMBI near 20.26, target 19.74, Stop Loss @ 20.31. Details

The technical summary data is suggesting a short of FMBI if it tests 20.26 with a downside target of 19.74. We should have a stop loss in place at 20.31 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 20.26, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

FMBI Ratings for December 26:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Neutral
P1	0	0	18.00
P2	19.74	19.34	20.09
P3	20.26	19.94	22.32

Support and Resistance Plot Chart for FMBI

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