FirstMerit: 52-Week High Recently Eclipsed (FMER)
FirstMerit (NASDAQ:FMER) traded at a new 52-week high today of $22.64. Approximately 131,000 shares have changed hands today, as compared to an average 30-day volume of 1.3 million shares.
FirstMerit (NASDAQ:FMER) defies analysts with a current price ($22.58) 10.1% above its average consensus price target of $20.30. The stock should find initial support at its 50-day moving average (MA) of $21.35 and further support at its 200-day MA of $19.27.
In the past 52 weeks, shares of FirstMerit have traded between a low of $15.33 and a high of $22.64 and are now at $22.58, which is 47% above that low price. The 200-day and 50-day moving averages have moved 0.13% higher and 0.96% higher over the past week, respectively.
FirstMerit Corporation operates primarily as a multi-bank holding company. The Banks attract deposits, originate loans, and provide other banking services. The Company's non-banking subsidiaries provide securities brokerage, trust, equipment lease financing, insurance, and other services. FirstMerit operates in Ohio.
SmarTrend recommended that subscribers consider buying shares of FirstMerit on January 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.52. Since that recommendation, shares of FirstMerit have risen 21.7%. We continue to monitor FMER for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows FirstMerit