Taking everything into account, MBWM scores 3 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. MBWM was also a bad performer in the overall market in the last year.
Although the technical rating is bad, MBWM does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 45.60, 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
39.79
We found 2 important support areas.
- A support zone ranging from 43.13 to 45.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @40.19 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 50.44 to 50.52. This zone is formed by a combination of multiple trend lines in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for MBWM is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MBWM is up. |
| ChartMill Relative Strength | 27.78 | NEGATIVE | MBWM has a low relative strength, it was outperformed by 72.22% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MBWM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of MBWM is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of MBWM is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.98 | NEUTRAL | The RSI value for MBWM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests MBWM has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 77.69 | NEUTRAL | The Stochastics value for MBWM is a neutral value. |
| Average True Range in percent/ATR (20) | 2.57 | MEDIUM VOLATILITY | The ATR as a percentage value for MBWM suggests some volalility. |
| Average Directional Index/ADX (14) | 14.5 | NEGATIVE | The low ADX value for MBWM suggests a weak or negative trend. |
45.98
-0.49 (-1.05%)
MERCANTILE BANK CORP / MBWM FAQ
Can you provide the ChartMill technical rating for MERCANTILE BANK CORP?
ChartMill assigns a technical rating of 3 / 10 to MBWM.
Can you provide the trend direction for MERCANTILE BANK CORP?
The current trend direction for MERCANTILE BANK CORP (MBWM) is Bearish.
What is the RSI signal for MBWM stock?
MERCANTILE BANK CORP (MBWM) has an RSI value of 54.9769. This indicates that the stock is currently neutral.
Can you provide the short term momentum for MERCANTILE BANK CORP?
The short term momentum for MERCANTILE BANK CORP (MBWM) is positive.