We assign a technical rating of 6 out of 10 to MBWM. MBWM has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.
MBWM has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 49.92. Right above this resistance zone may be a good entry point.
More info and screens
40.09
When analyzing the support we can see 4 important areas.
- A support zone ranging from 48.26 to 48.60. 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 45.21 to 45.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 43.13 to 43.59. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @40.49 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 49.92 to 50.52. 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 MBWM is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MBWM is neutral. |
| ChartMill Relative Strength | 71.08 | POSITIVE | MBWM has a high relative strength, it outperformed 71.08% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MBWM is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MBWM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MBWM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.73 | NEUTRAL | The RSI value for MBWM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests MBWM has a negative trend. |
| Stochastics (14,3) | 66.01 | NEUTRAL | The Stochastics value for MBWM is a neutral value. |
| Average True Range in percent/ATR (20) | 2.5 | MEDIUM VOLATILITY | The ATR as a percentage value for MBWM suggests some volalility. |
| Average Directional Index/ADX (14) | 13.78 | NEGATIVE | The low ADX value for MBWM suggests a weak or negative trend. |
48.94
-1.28 (-2.55%)
MERCANTILE BANK CORP / MBWM FAQ
Can you provide the ChartMill technical rating for MERCANTILE BANK CORP?
ChartMill assigns a technical rating of 6 / 10 to MBWM.
What is the current trend direction of MERCANTILE BANK CORP (MBWM) stock?
The current trend direction for MERCANTILE BANK CORP (MBWM) is Bullish.
Can you provide the RSI signal for MERCANTILE BANK CORP?
MERCANTILE BANK CORP (MBWM) has an RSI value of 54.7344. This indicates that the stock is currently neutral.
What is the MACD signal for MBWM stock?
The MACD indicator for MERCANTILE BANK CORP (MBWM) has a value of -0.0674213, indicating a bearish trend.
What is the short term momentum for MERCANTILE BANK CORP (MBWM) stock?
The short term momentum for MERCANTILE BANK CORP (MBWM) is neutral.