On Friday, First Merchants got a positive adjustment to its Relative Strength (RS) Rating, from 70 to 73.
When To Sell Stocks To Lock In Profits And Minimize Losses
IBD's proprietary rating identifies price movement with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the market's biggest winners tend to have an RS Rating north of 80 as they launch their biggest price moves. See if First Merchants can continue to show renewed price strength and clear that threshold.
First Merchants is working on a double bottom with a 45.62 buy point. See if the stock can break out in heavy volume.
The company posted 11% EPS growth last quarter. Revenue gains came in at 4%. The next quarterly results are expected on or around Jul. 23.
The company holds the No. 34 rank among its peers in the Banks-Midwest industry group. First Financial, Alerus Financial and First Business Finl Svcs are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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