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

By Amy Schwartz

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 $27.82 and $28.45 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 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.

In the past 52 weeks, First Inter/Mt-A share prices have been bracketed by a low of $24.50 and a high of $43.83 and closed yesterday at $28.62, 17% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 2.2%.

There is potential upside of 65.4% for shares of First Inter/Mt-A based on a current price of $28.62 and an average consensus analyst price target of $47.33. The stock should find initial resistance at its 50-day moving average (MA) of $34.89 and further resistance at its 200-day MA of $38.91.

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