How the price action of First Midwest Bancorp (FMBI) is used to our Advantage

January 25, 2022, 04:30 am ET, BY Simon M.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  First Midwest Bancorp (NASDAQ: FMBI) data table below can help you with price action, and we have more details too. Trading plans for FMBI are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for FMBI

• Buy FMBI slightly over 19.85 target 21.86 stop loss @ 19.79 Details

The technical summary data tells us to buy FMBI near 19.85 with an upside target of 21.86. This data also tells us to set a stop loss @ 19.79 to protect against excessive loss in case the stock begins to move against the trade. 19.85 is the first level of support below 21.3 , and by rule, any test of support is a buy signal. In this case, support 19.85 is being tested, a buy signal would exist.

• Short FMBI under 21.86, target 19.85, stop loss @ 21.92 Details

The technical summary data is suggesting a short of FMBI as it gets near 21.86 with a downside target of 19.85. We should have a stop loss in place at 21.92though. 21.86 is the first level of resistance above 21.3, and by rule, any test of resistance is a short signal. In this case, if resistance 21.86 is being tested, a short signal would exist.

Swing Trading Plans for FMBI

• Buy FMBI slightly over 22.06, target n/a, Stop Loss @ 22 Details

If 22.06 begins to break higher, the technical summary data tells us to buy FMBI just slightly over 22.06, with an upside target of n/a. The data also tells us to set a stop loss @ 22 in case the stock turns against the trade. 22.06 is the first level of resistance above 21.3, and by rule, any break above resistance is a buy signal. In this case, 22.06, 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 22.06, target 21.16, Stop Loss @ 22.12. Details

The technical summary data is suggesting a short of FMBI if it tests 22.06 with a downside target of 21.16. We should have a stop loss in place at 22.12 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, 22.06, 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 22.06, target n/a, Stop Loss @ 22.01 Details

If 22.06 begins to break higher, the technical summary data tells us to buy FMBI just slightly over 22.06, with an upside target of n/a. The data also tells us to set a stop loss @ 22.01 in case the stock turns against the trade. 22.06 is the first level of resistance above 21.3, and by rule, any break above resistance is a buy signal. In this case, 22.06, 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 22.06, target 21.16, Stop Loss @ 22.11. Details

The technical summary data is suggesting a short of FMBI if it tests 22.06 with a downside target of 21.16. We should have a stop loss in place at 22.11 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, 22.06, 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 January 25:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Neutral
P1	0	0	17.92
P2	20.67	21.16	19.85
P3	21.10	22.06	21.86

Support and Resistance Plot Chart for FMBI

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