The Relative Strength (RS) Rating for First Merchants climbed into a new percentile Wednesday, with a rise from 80 to 84.
IBD's proprietary rating identifies price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks holds up against all the other stocks in our database.
History reveals that the best stocks typically have an 80 or better RS Rating in the early stages of their moves.
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First Merchants is building a cup without handle with a 46.13 buy point. See if the stock can break out in heavy trading.
The company saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -1% to 11%. Revenue rose from -3% to 13%.
The company holds the No. 17 rank among its peers in the Banks-Midwest industry group. Equity Bancshares, First Business Finl Svcs and Landmark Bancorp are among the top 5 highly rated stocks within the group.
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