INDEPENDENT BANK CORP - MICH (IBCP) Stock Technical Analysis
NASDAQ:IBCP - Nasdaq - US4538386099 - Common Stock - Currency: USD
Overall IBCP gets a technical rating of 0 out of 10. IBCP's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
75% of all other stocks performed better in the past year than IBCP.
IBCP is one of the lesser performing stocks in the Banks industry. 81% of 392 stocks in the same industry do better.
IBCP is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
IBCP is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
The short term trend is negative, the long term trend is neutral. Not much exciting going on here.
IBCP has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
27.80
34.96
We found 2 important support areas.
- A support zone ranging from 29.99 to 30.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 28.08 to 28.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 31.85 to 32.58. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 33.94 to 33.99. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 34.61 to 34.61. 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 | NEUTRAL | NEUTRAL | The long term trend for IBCP is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for IBCP is down. |
| ChartMill Relative Strength | 25.29 | NEGATIVE | IBCP has a low relative strength, it was outperformed by 74.71% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of IBCP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of IBCP is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of IBCP is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 31.43 | NEUTRAL | The RSI value for IBCP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.37 | NEGATIVE | The MACD value suggests IBCP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 11.13 | OVERSOLD | The low Stochastics value suggests IBCP may be oversold. |
| Average True Range in percent/ATR (20) | 3.26 | MEDIUM VOLATILITY | The ATR as a percentage value for IBCP suggests some volalility. |
| Average Directional Index/ADX (14) | 21.3 | NEUTRAL | The ADX value for IBCP suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
30.2
+0.08 (+0.27%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg0.27%
1 Week-1.15%
2 Weeks-8.04%
1 Month-12.11%
3 Month-4.55%
6 Month-16.64%
12 Month-3.55%
2 Year58.2%
3 Year47.17%
5 Year102.55%
10 Year114.64%
15 Year8528.57%
Volatility
ATR(14)1
ATR(20)%3.26%
ATR Inc-16.41%
Range Today1.1
ADR(20)0.96
ADR(20)%3.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS25.29
Mansfield-1.6
10 Day High33.76
10 Day Low29.63
20 Day High34.69
20 Day Low29.63
52 Week High40.32
52 Week Low26.75
CS1 End30.19
CR1 Start31.85
Volume & EV
DER(3)-1.06%
DER(5)-1.86%
Volume70.90K
Volume Incr24.97%
Vol(5)90.34K
Vol(50)76.26K