FIRST MERCHANTS - Daily - Technical analysis published on 01/23/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Neutral
Technical indicators
11%
61%
28%
My opinion
Bearish under 41.50 USD
My targets
39.67 USD (-2.72%)
38.23 USD (-6.25%)
My analysis
The current short-term bearish acceleration registered on FIRST MERCHANTS should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 41.50 USD. Short-term sellers will use the support located at 39.67 USD as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 38.23 USD. Crossing this support would then open the door for sellers to target 37.26 USD. Caution, if there is a return to below 41.50 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
FORCE
0
10
2.7
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The FIRST MERCHANTS rating is 40.78 USD. On the day, this instrument lost -0.17% with the lowest point at 40.25 USD and the highest point at 40.99 USD. The deviation from the price is +1.32% for the low point and -0.51% for the high point.40.25
40.99
40.78
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this FIRST MERCHANTS chart shows a neutral trend. This indecision could turn into a bearish trend due to the strong bearish signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a bearish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Support of channel is broken
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 38.23 | 39.67 | 40.53 | 40.78 | 41.50 | 42.35 | 44.36 |
| Change (%) | -6.25% | -2.72% | -0.61% | - | +1.77% | +3.85% | +8.78% |
| Change | -2.55 | -1.11 | -0.25 | - | +0.72 | +1.57 | +3.58 |
| Level | Minor | Intermediate | Major | - | Major | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 40.29 | 40.47 | 40.66 | 40.84 | 41.03 | 41.21 | 41.40 |
| Camarilla | 40.75 | 40.78 | 40.82 | 40.85 | 40.88 | 40.92 | 40.95 |
| Woodie | 40.30 | 40.47 | 40.67 | 40.84 | 41.04 | 41.21 | 41.41 |
| Fibonacci | 40.47 | 40.61 | 40.70 | 40.84 | 40.98 | 41.07 | 41.21 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 39.47 | 40.09 | 40.75 | 41.37 | 42.03 | 42.65 | 43.31 |
| Camarilla | 41.05 | 41.17 | 41.28 | 41.40 | 41.52 | 41.64 | 41.75 |
| Woodie | 39.48 | 40.10 | 40.76 | 41.38 | 42.04 | 42.66 | 43.32 |
| Fibonacci | 40.09 | 40.58 | 40.88 | 41.37 | 41.86 | 42.16 | 42.65 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 36.87 | 38.17 | 39.88 | 41.18 | 42.89 | 44.19 | 45.90 |
| Camarilla | 40.76 | 41.04 | 41.31 | 41.59 | 41.87 | 42.14 | 42.42 |
| Woodie | 37.08 | 38.27 | 40.09 | 41.28 | 43.09 | 44.29 | 46.10 |
| Fibonacci | 38.17 | 39.32 | 40.03 | 41.18 | 42.33 | 43.04 | 44.19 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.04 | |
| MACD (12,26,9): | -0.0200 | |
| Directional Movement: | -7.47 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 41.20 | |
| Parabolic SAR (0,02-0,02-0,2): | 41.97 | |
| Elder Ray (13): | -0.52 | |
| Super Trend (3,10): | 40.18 | |
| Zig ZAG (10): | 40.86 | |
| VORTEX (21): | 0.8400 | |
| Stochastique (14,3,5): | 24.96 | |
| TEMA (21): | 40.94 | |
| Williams %R (14): | -68.57 | |
| Chande Momentum Oscillator (20): | -0.31 | |
| Repulse (5,40,3): | -0.3200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 1.75 |
| MA7: | 41.14 | |
| MA20: | 41.25 | |
| MA50: | 41.10 | |
| MA100: | 39.64 | |
| MAexp7: | 41.03 | |
| MAexp20: | 41.16 | |
| MAexp50: | 40.81 | |
| MAexp100: | 39.96 | |
| Price / MA7: | -0.88% | |
| Price / MA20: | -1.14% | |
| Price / MA50: | -0.78% | |
| Price / MA100: | +2.88% | |
| Price / MAexp7: | -0.61% | |
| Price / MAexp20: | -0.92% | |
| Price / MAexp50: | -0.07% | |
| Price / MAexp100: | +2.05% |
News
The last news published on FIRST MERCHANTS at the time of the generation of this analysis was as follows:
- First Merchants Corporation to Report Fourth Quarter 2019 Financial Results, Host Conference Call and Webcast
- First Merchants Corporation Announces Cash Dividend
- First Merchants Corporation Elects Doug Chaffin to Its Board of Directors
- First Merchants Corporation Announces Third Quarter 2019 Results With the Addition of Monroe Bank and Trust
- First Merchants Corporation to Report Third Quarter 2019 Financial Results, Host Conference Call and Webcast
This member declared not having a position on this financial instrument or a related financial instrument.
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