MERCHANTS BANCORP/IN (MBIN) Stock Technical Analysis
NASDAQ:MBIN - Nasdaq - US58844R1086 - Common Stock - Currency: USD
Overall MBIN gets a technical rating of 4 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. MBIN was also a bad performer in the overall market in the last year.
MBIN has only a medium technical rating, but it does show 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 34.68. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.51, a Stop Loss order could be placed below this zone.
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29.75
When analyzing the support we can see 3 important areas.
- A support zone ranging from 33.95 to 34.51. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 31.26 to 31.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 30.05 to 30.06. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 34.68 to 36.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @40.25 from a trend line in the daily time frame.
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 | DOWN | NEGATIVE | The long term trend for MBIN is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MBIN is up. |
| ChartMill Relative Strength | 14.04 | NEGATIVE | MBIN has a low relative strength, it was outperformed by 85.96% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MBIN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MBIN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MBIN is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.52 | NEUTRAL | The RSI value for MBIN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests MBIN has a negative trend. |
| Stochastics (14,3) | 64.4 | NEUTRAL | The Stochastics value for MBIN is a neutral value. |
| Average True Range in percent/ATR (20) | 3.68 | MEDIUM VOLATILITY | The ATR as a percentage value for MBIN suggests some volalility. |
| Average Directional Index/ADX (14) | 17.11 | NEGATIVE | The low ADX value for MBIN suggests a weak or negative trend. |
34.61
-0.22 (-0.63%)