INDEPENDENT BANK CORP - MICH (IBCP) Stock Technical Analysis
NASDAQ:IBCP • US4538386099
Overall IBCP gets a technical rating of 8 out of 10. Although IBCP is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- IBCP is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so IBCP is lagging the market slightly.
- IBCP is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- When comparing the performance of all stocks over the past year, IBCP turns out to be only a medium performer in the overall market: it outperformed 67% of all stocks.
- IBCP is part of the Banks industry. There are 381 other stocks in this industry, IBCP did better than 45% of them.
Besides having an excellent technical rating, IBCP also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 36.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 36.34, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
29.89
6 important support areas can be observed.
- A support zone ranging from 35.49 to 36.34. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 34.16 to 34.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @33.50 from a trend line in the weekly time frame.
- A support zone ranging from 32.18 to 32.18. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @31.59 from a trend line in the weekly time frame.
- A support zone ranging from 30.19 to 30.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 36.64 to 36.74. 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 IBCP is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for IBCP is up. |
| ChartMill Relative Strength | 67.9 | NEUTRAL | IBCP is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of IBCP is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IBCP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of IBCP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.58 | NEUTRAL | The RSI value for IBCP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests IBCP has a positive trend. |
| Stochastics (14,3) | 64.31 | NEUTRAL | The Stochastics value for IBCP is a neutral value. |
| Average True Range in percent/ATR (20) | 3.03 | MEDIUM VOLATILITY | The ATR as a percentage value for IBCP suggests some volalility. |
| Average Directional Index/ADX (14) | 35.1 | POSITIVE | The high ADX value value for IBCP suggests a strong 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 |
|---|---|---|---|
| 36.75 | 35.48 | 1.27 (3.46%) | 25.00% |
| An entry @36.75. This is a Buy Stop order right above the resistance zone. | An exit @35.48. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.27 points, which is 3.46%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.86%. |
- The distance between exit and entry is rather small compared to the average daily movement of IBCP. Please evaluate whether better entry and exit points can be found.
- 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.
36.63
+0.72 (+2.01%)
INDEPENDENT BANK CORP - MICH / IBCP FAQ
What is the ChartMill technical rating of INDEPENDENT BANK CORP - MICH (IBCP) stock?
ChartMill assigns a technical rating of 8 / 10 to IBCP.
What is the trend direction for IBCP stock?
The current trend direction for INDEPENDENT BANK CORP - MICH (IBCP) is Bullish.
What is the RSI signal for INDEPENDENT BANK CORP - MICH (IBCP) stock?
INDEPENDENT BANK CORP - MICH (IBCP) has an RSI value of 64.5788. This indicates that the stock is currently neutral.
What is the short term momentum for IBCP stock?
The short term momentum for INDEPENDENT BANK CORP - MICH (IBCP) is positive.
Can you provide the support and resistance levels for INDEPENDENT BANK CORP - MICH?
INDEPENDENT BANK CORP - MICH (IBCP) has a support level at 36.34 and a resistance level at 36.64. Check the full technical report for our detailed analysis of IBCP support and resistance levels.