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Possible Bullish Inside Day Candle Pattern Detected for First Inter/Mt-A (NASDAQ:FIBK)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in First Inter/Mt-A (NASDAQ:FIBK) based on the price action in the company's shares. Yesterday's price range of $38.12 and $38.46 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of First Inter/Mt-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

First Inter/Mt-A share prices have moved between a 52-week high of $47.05 and a 52-week low of $34.61 and closed yesterday at 11% above that low price at $38.46 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.7%.

Potential upside of 23.1% exists for First Inter/Mt-A, based on a current level of $38.46 and analysts' average consensus price target of $47.33. The stock should run into initial resistance at its 50-day moving average (MA) of $40.77 and subsequent resistance at its 200-day MA of $41.69.

First Interstate BancSystem, Inc. is the holding company of First Interstate Bank. The Bank attracts deposits and offers business and consumer loans, mortgages, investment products, and trust services. Through a subsidiary, First Interstate BancSystem reinsures credit life and disability insurance. The Bank operates in Montana and Wyoming.

SmarTrend is tracking the current trend status for First Inter/Mt-A and will alert subscribers who have FIBK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle first inter/mt-a

Ticker(s): FIBK