HORIZON BANCORP INC/IN (HBNC) Stock Technical Analysis
NASDAQ:HBNC - Nasdaq - US4404071049 - Common Stock - Currency: USD
Taking everything into account, HBNC scores 7 out of 10 in our technical rating. In the last year, HBNC was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
Besides having an excellent technical rating, HBNC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 16.23. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 15.39, a Stop Loss order could be placed below this zone.
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13.39
When analyzing the support we can see 3 important areas.
- A support zone ranging from 15.01 to 15.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 14.45 to 14.59. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @13.53 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 16.23 to 16.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for HBNC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HBNC is up. |
| ChartMill Relative Strength | 76.04 | POSITIVE | HBNC has a high relative strength, it outperformed 76.04% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HBNC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HBNC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of HBNC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.95 | NEUTRAL | The RSI value for HBNC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests HBNC has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 70.71 | NEUTRAL | The Stochastics value for HBNC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.53 | MEDIUM VOLATILITY | The ATR as a percentage value for HBNC suggests some volalility. |
| Average Directional Index/ADX (14) | 24.72 | NEUTRAL | The ADX value for HBNC suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.93 | 15.23 | 0.70 (4.41%) | 22.70% |
| An entry @15.93. This is a Buy Stop order right above the 10 day moving average. | An exit @15.23. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.70 points, which is 4.41%. | When investing 22.70% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
15.71
-0.26 (-1.63%)