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First Merchants: 52-Week High Recently Eclipsed (FRME)

By Nick Russo

Shares of First Merchants (NASDAQ:FRME) traded at a new 52-week high today of $50.44. This new high was reached on below average trading volume as 69,000 shares traded hands, while the average 30-day volume is approximately 210,000 shares.

Over the past year, First Merchants has traded in a range of $37.09 to $50.44 and is now at $50.20, 35% above that low. The 200-day and 50-day moving averages have moved 0.12% higher and 0.37% higher over the past week, respectively.

First Merchants Corporation is a multi-bank holding company. The Banks offer a broad range of financial services, including accepting time and transaction deposits, making commercial and consumer loans, issuing credit cards, and providing personal and corporate trust services. First Merchants operates offices in Indiana and Ohio.

First Merchants (NASDAQ:FRME) defies analysts with a current price ($50.20) 2.8% above its average consensus price target of $48.80. First Merchants shares have support at the 50-day moving average (MA) of $46.79 and additional support at the 200-day MA of $43.76.

SmarTrend recommended that subscribers consider buying shares of First Merchants on May 8th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.11. Since that recommendation, shares of First Merchants have risen 4.9%. We continue to monitor FRME for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows first merchants

Ticker(s): FRME