First Midwest Bancorp Inc. (FMBI) Setting Up For Breakout
First Midwest Bancorp had been chopping around for the past four years hitting a low of $5.86 in July 2009 and a high of $17.79 in April 2010. All of 2011 and 2012 shares of FMBI have been in a range of $8-$13.50 as seen below. $13.50 represents a large overhead resistance, and once broken shares will have room to climb higher.
The daily chart view shows an ascending triangle forming since November 2012, a very bullish chart formation.