INDEPENDENT BANK CORP/MA (INDB) Stock Technical Analysis
NASDAQ:INDB - Nasdaq - US4538361084 - Common Stock - Currency: USD
We assign a technical rating of 4 out of 10 to INDB. Although INDB is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Although the technical rating is only medium, INDB does present a nice setup opportunity. 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 62.68. Right above this resistance zone may be a good entry point.
More info and screens
45.15
We found 3 important support areas.
- Support @54.99 from a trend line in the weekly time frame.
- A support zone ranging from 53.61 to 53.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @45.61 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 62.68 to 65.21. This zone is formed by a combination of multiple trend lines and important moving averages 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 INDB is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for INDB is neutral. |
| ChartMill Relative Strength | 78.67 | POSITIVE | INDB has a high relative strength, it outperformed 78.67% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of INDB is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of INDB is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of INDB is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 51.39 | NEUTRAL | The RSI value for INDB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.24 | NEGATIVE | The MACD value suggests INDB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 35.53 | NEUTRAL | The Stochastics value for INDB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.89 | MEDIUM VOLATILITY | The ATR as a percentage value for INDB suggests some volalility. |
| Average Directional Index/ADX (14) | 11.67 | NEGATIVE | The low ADX value for INDB suggests a weak or negative trend. |
61.95
+0.6 (+0.98%)