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December 24, 2024, 19:18 pm ET, BY Mitchell H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy FBMS near 31.84 with an upside target of 35.28. This data also tells us to set a stop loss @ 31.75 to protect against excessive loss in case the stock begins to move against the trade. 31.84 is the first level of support below 34.96 , and by rule, any test of support is a buy signal. In this case, support 31.84 would be being tested, so a buy signal would exist.
The technical summary data is suggesting a short of FBMS as it gets near 35.28 with a downside target of 31.84. We should have a stop loss in place at 35.38though. 35.28 is the first level of resistance above 34.96, and by rule, any test of resistance is a short signal. In this case, if resistance 35.28 is being tested, so a short signal would exist.
If 35.28 begins to break higher, the technical summary data tells us to buy FBMS just slightly over 35.28, with an upside target of 38.88. The data also tells us to set a stop loss @ 35.18 in case the stock turns against the trade. 35.28 is the first level of resistance above 34.96, and by rule, any break above resistance is a buy signal. In this case, 35.28, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of FBMS if it tests 35.28 with a downside target of 33.58. We should have a stop loss in place at 35.38 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 35.28, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
If 35.28 begins to break higher, the technical summary data tells us to buy FBMS just slightly over 35.28, with an upside target of 38.88. The data also tells us to set a stop loss @ 35.2 in case the stock turns against the trade. 35.28 is the first level of resistance above 34.96, and by rule, any break above resistance is a buy signal. In this case, 35.28, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of FBMS if it tests 35.28 with a downside target of 34.24. We should have a stop loss in place at 35.36 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 35.28, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
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The data for The First Bancshares Inc. (NASDAQ: FBMS) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.