We assign a technical rating of 2 out of 10 to FRME. FRME scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- When comparing the yearly performance of all stocks, FRME is a bad performer in the overall market: 61% of all stocks are doing better.
- FRME is part of the Banks industry. There are 383 other stocks in this industry, of which 80% are performing better than FRME.
- In the last month FRME has a been trading in the 36.86 - 39.29 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
- Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
- FRME is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so FRME is lagging the market.
FRME has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 38.05, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
35.02
We found 2 important support areas.
- A support zone ranging from 36.92 to 38.05. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 35.37 to 36.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 38.11 to 38.49. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @39.54 from a trend line in the weekly time frame.
- A resistance zone ranging from 41.73 to 41.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for FRME is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for FRME is neutral. |
| ChartMill Relative Strength | 39.46 | NEUTRAL | FRME is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of FRME is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of FRME is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of FRME is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.46 | NEUTRAL | The RSI value for FRME is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests FRME has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 58.83 | NEUTRAL | The Stochastics value for FRME is a neutral value. |
| Average True Range in percent/ATR (20) | 1.96 | LOW VOLATILITY | The low ATR as a percentage value for FRME suggests low volalility. |
| Average Directional Index/ADX (14) | 16.78 | NEGATIVE | The low ADX value for FRME suggests a weak or negative trend. |
38.08
-0.45 (-1.17%)
FIRST MERCHANTS CORP / FRME FAQ
Can you provide the ChartMill technical rating for FIRST MERCHANTS CORP?
ChartMill assigns a technical rating of 2 / 10 to FRME.
What is the trend direction for FRME stock?
The current trend direction for FIRST MERCHANTS CORP (FRME) is Bearish.
What is the RSI signal for FRME stock?
FIRST MERCHANTS CORP (FRME) has an RSI value of 51.4571. This indicates that the stock is currently neutral.
Can you provide the MACD signal for FIRST MERCHANTS CORP?
The MACD indicator for FIRST MERCHANTS CORP (FRME) has a value of -0.0476276, indicating a bearish trend.