INDEPENDENT BANK CORP/MA (INDB) Stock Technical Analysis
NASDAQ:INDB - Nasdaq - US4538361084 - Common Stock - Currency: USD
Overall INDB gets a technical rating of 8 out of 10. Although INDB is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The long and short term trends are both positive. This is looking good!
In the last month INDB has a been trading in the 61.55 - 68.55 range, which is quite wide. It is currently trading near the high of this range.
When compared to the yearly performance of all other stocks, INDB outperforms 64% of them, which is more or less in line with the market.
INDB is part of the Banks industry. There are 393 other stocks in this industry, INDB did better than 61% of them.
INDB is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so INDB is lagging the market.
INDB has an excellent technical rating and 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 68.56. Right above this resistance zone may be a good entry point.
More info and screens
45.15
70.99
6 important support areas can be observed.
- A support zone ranging from 64.76 to 65.32. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 63.61 to 63.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 62.06 to 62.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @60.78 from a horizontal line in the daily time frame.
- Support @56.87 from a trend line in the weekly time frame.
- Support @45.61 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 68.56 to 70.29. 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 INDB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for INDB is up. |
| ChartMill Relative Strength | 64.4 | NEUTRAL | INDB is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of INDB is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of INDB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of INDB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.39 | NEUTRAL | The RSI value for INDB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.22 | POSITIVE | The MACD value suggests INDB has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 76.8 | NEUTRAL | The Stochastics value for INDB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.4 | MEDIUM VOLATILITY | The ATR as a percentage value for INDB suggests some volalility. |
| Average Directional Index/ADX (14) | 12.9 | NEGATIVE | The low ADX value for INDB suggests a weak or negative 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)
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 |
|---|---|---|---|
| 70.30 | 64.75 | 5.55 (7.89%) | 12.67% |
| An entry @70.30. This is a Buy Stop order right above the resistance zone. | An exit @64.75. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 5.55 points, which is 7.89%. | When investing 12.67% 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.
66.96
-0.28 (-0.42%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-0.42%
1 Week-1.53%
2 Weeks6.03%
1 Month0.48%
3 Month10.17%
6 Month-1.38%
12 Month6.3%
2 Year23.95%
3 Year-14.41%
5 Year6.54%
10 Year47.85%
15 Year219.31%
Volatility
ATR(14)1.7
ATR(20)%2.4%
ATR Inc-21.47%
Range Today1.44
ADR(20)1.58
ADR(20)%2.36%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS64.4
Mansfield-0.35
10 Day High68.55
10 Day Low62.9
20 Day High68.55
20 Day Low61.55
52 Week High77.23
52 Week Low52.15
CS1 End65.32
CR1 Start68.56
Volume & EV
DER(3)1.58%
DER(5)1.08%
Volume313.70K
Volume Incr-25.98%
Vol(5)305.98K
Vol(50)429.12K