Stalled Yet Found Support at 50-Day Moving Average Line - Friday, June 11, 2021
Bank Consolidating Near 50 Day Moving Average Line - Friday, May 7, 2021
Encountering Distributional Pressure - Monday, April 12, 2021
Prior High Defines Initial Support to Watch - Monday, March 15, 2021
Negative Reversal When Poised to Convincingly Breakout - Monday, February 22, 2021
Stalled Yet Found Support at 50-Day Moving Average Line - Friday, June 11, 2021
Meridian Corp (MRBK +$0.08 or +0.30% to $27.01) is still consolidating in a tight range above its 50-day moving average (DMA) line ($26.20). It stalled since reaching a new 52-week high when featured on 5/18/21. The recent low ($24.01 on 4/21/21) defines important near-term support where any violation may trigger a worrisome technical sell signal. Its Relative Strength Rating is 78, below the 80 minimum guideline. It remains perched within striking distance of its 52-week high.
MRBK reported Mar '21 earnings +323% on +93% sales revenues versus the year ago period, continuing its strong earnings track record. That marked its 4th quarterly earnings increase well above the +25% minimum guideline (C criteria). It was highlighted in yellow with pivot point cited based on its 12/18/21 high plus 10 cents in the 2/22/21 mid-day report (read here). It was last shown in this FSU section on 5/07/21 with an annotated graph under the headline, "Bank Consolidating Near 50 Day Moving Average Line".
The thinly-traded company is in the Banks-Northeast industry group which currently has a Group Relative Strength Rating of 86 (A). There are a fair number of other strong leaders (L criteria) in the group. Annual earnings growth (A criteria) has been good since it Nov '17 IPO at $17.
The number of top rated funds that own its shares rose from 30 in Mar '20 to 137 in Mar '21, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days. The small supply of only 6.2 million shares outstanding (S criteria) can contribute to greater volatility in the event of institutional buying or selling.
Bank Consolidating Near 50 Day Moving Average Line - Friday, May 7, 2021
Meridian Corp (MRBK +$0.07 or +0.25% to $25.83) halted its slide near its 50-day moving average (DMA) line ($25.71) after 5 consecutive small losses. It remains perched within striking distance of its 52-week high. The recent low ($24.01 on 4/21/21) defines important near-term support where any violation may trigger a worrisome technical sell signal. Its Relative Strength Rating is 74, below the 80 minimum guideline, however it is perched only -7.6% off its high.
MRBK reported Mar '21 earnings +323% on +93% sales revenues versus the year ago period, continuing its strong earnings track record. That marked its 4th quarterly earnings increase well above the +25% minimum guideline (C criteria). It was highlighted in yellow with pivot point cited based on its 12/18/21 high plus 10 cents in the 2/22/21 mid-day report (read here). It was last shown in this FSU section on 4/12/21 with an annotated graph under the headline, "Encountering Distributional Pressure".
The thinly-traded company is in the Banks-Northeast industry group which currently has a Group Relative Strength Rating of 87 (A). There are a fair number of other strong leaders (L criteria) in the group. Annual earnings growth (A criteria) has been good since it Nov '17 IPO at $17.
The number of top rated funds that own its shares rose from 30 in Mar '20 to 134 in Mar '21, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.0 is an unbiased indication its shares have been neutral concerning accumulation/distribution over the past 50 days. The small supply of only 6.2 million shares outstanding (S criteria) can contribute to greater volatility in the event of institutional buying or selling.
Encountering Distributional Pressure - Monday, April 12, 2021
Meridian Corp (MRBK -$0.65 or -2.51% to $25.25) ended the day with a loss on higher volume indicative of distributional pressure. Volume totals had been below average in recent weeks while hovering in a tight range within close striking distance of its all-time high. Its 50-day moving average (DMA) line ($24.84) and prior low ($24.13 on 3/25/21) define important near-term support to watch where violations may trigger technical sell signals.
Its Relative Strength Rating is 78, below the 80+ minimum guideline. MRBK was highlighted in yellow with pivot point cited based on its 12/18/21 high plus 10 cents in the 2/22/21 mid-day report (read here). It was last shown in this FSU section on 3/15/21 with an annotated graph under the headline, "Prior High Defines Initial Support to Watch".
The thinly-traded company is in the Banks-Northeast industry group which currently has a Group Relative Strength Rating of 82 (A-). There are a fair number of other strong leaders (L criteria) in the group. The past 3 quarterly comparisons through Dec '20 had earnings increases well above the +25% minimum guideline (C criteria). Annual earnings growth (A criteria) has been good since it Nov '17 IPO at $17.
The number of top rated funds that own its shares rose from 30 in Mar '20 to 119 in Dec '20, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days. The small supply of only 6.2 million shares outstanding (S criteria) can contribute to greater volatility in the event of institutional buying or selling.
Prior High Defines Initial Support to Watch - Monday, March 15, 2021
Meridian Corp (MRBK -$0.20 or -0.75% to $26.40) pulled back today but ended near the session high with a 3rd consecutive loss after a "negative reversal" at its 52-week high. It was previously noted - "The prior high ($26) defines initial support to watch on pullbacks."
MRBK was highlighted in yellow with pivot point cited based on its 12/18/21 high plus 10 cents in the 2/22/21 mid-day report (read here) and in this FSU section that evening with an annotated graph under the headline, "Negative Reversal When Poised to Convincingly Breakout". The thinly-traded company is in the Banks-Northeast industry group which currently has a Group Relative Strength Rating of 75 (A-). There are a fair number of other strong leaders (L criteria) in the group. The past 3 quarterly comparisons through Dec '20 had earnings increases well above the +25% minimum guideline (C criteria). Annual earnings growth (A criteria) has been good since it Nov '17 IPO at $17.
The number of top rated funds that own its shares rose from 30 in Mar '20 to 118 in Dec '20, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days. The small supply of only 6.1 million shares outstanding (S criteria) can contribute to greater volatility in the event of institutional buying or selling.
Negative Reversal When Poised to Convincingly Breakout - Monday, February 22, 2021
Meridian Corp (MRBK -$0.10 or -0.40% to $25.00) had a "negative reversal" today after hitting a new high. It was highlighted in yellow with pivot point cited based on its 12/18/21 high plus 10 cents in the earlier mid-day report (read here). It was noted - "A gain and strong close above its pivot point backed by at least +40% above average volume may trigger a technical buy signal." It has tallied an impressive spurt of gains in recent weeks after briefly undercutting its 50-day moving average (DMA) line. However, the negative reversal is a sign it encountered distributional pressure. Confirming volume-driven gains for new high (N criteria) are still needed to clinch a proper technical buy signal.
The thinly-traded company is in the Banks-Northeast industry group which currently has a Group Relative Strength Rating of 56 (B). There are a fair number of other strong leaders (L criteria) in the group. The past 3 quarterly comparisons through Dec '20 had earnings increases well above the +25% minimum guideline (C criteria). Annual earnings growth (A criteria) has been good since it Nov '17 IPO at $17.
The number of top rated funds that own its shares rose from 30 in Mar '20 to 116 in Dec '20, a reassuring sign concerning the I criteria. The current Up/Down Volume Ratio of 2.1 is an unbiased indication its shares have been under accumulation over the past 50 days. The small supply of only 6.1 million shares outstanding (S criteria) can contribute to greater volatility in the event of institutional buying or selling.
