DrewDimes

FIBK back to the 42 range

Long
NASDAQ:FIBK   First Interstate BancSystem, Inc
Been watching this one for a few days now due to the heavy volume . Wish I would have been accumulating some shares in the 38's, but I feel there is still a little room left to rally.

Quick DD. Growing bank mostly located in the northwestern US. Profitable bank and pretty safe/boring investment overtime. Pretty much sideways movement.

Stock price was recently hammered because of an acquisition of a bank that operates in the the northern Midwest territory. Should expand business quite a bit if it works out. Natural to see the acquiring company's stock price take a hit short term. I feel like I am getting in a little late so setting a tight stop, but momentum looks good and I think there's a better chance we get back to the 50 day MA range which would price this ticker around $42. Low risk/low reward.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.