MERCANTILE BANK CORP (MBWM) Stock Technical Analysis
NASDAQ:MBWM • US5873761044
We assign a technical rating of 8 out of 10 to MBWM. Although MBWM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- Both the short term and long term trends are positive. This is a very positive sign.
- MBWM is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MBWM is lagging the market slightly.
- MBWM is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
- Looking at the yearly performance, MBWM did better than 73% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
- MBWM is an average performer in the Banks industry, it outperforms 54% of 381 stocks in the same industry.
Besides having an excellent technical rating, MBWM 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 support zone below the current price at 51.35, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MBWM in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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40.61
We found 6 important support areas.
- Support @51.35 from a trend line in the daily time frame.
- A support zone ranging from 49.92 to 50.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 47.60 to 47.60. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @46.79 from a trend line in the weekly time frame.
- A support zone ranging from 43.42 to 43.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @41.02 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 54.17 to 54.94. 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 | UP | POSITIVE | The long term trend for MBWM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MBWM is up. |
| ChartMill Relative Strength | 73.58 | POSITIVE | MBWM has a high relative strength, it outperformed 73.58% 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) | 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) | 62.19 | NEUTRAL | The RSI value for MBWM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests MBWM has a negative trend. |
| Stochastics (14,3) | 66.32 | NEUTRAL | The Stochastics value for MBWM is a neutral value. |
| Average True Range in percent/ATR (20) | 2.92 | MEDIUM VOLATILITY | The ATR as a percentage value for MBWM suggests some volalility. |
| Average Directional Index/ADX (14) | 24.76 | NEUTRAL | The ADX value for MBWM suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 54.95 | 51.97 | 2.98 (5.42%) | 18.44% |
| An entry @54.95. This is a Buy Stop order right above the resistance zone. | An exit @51.97. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.98 points, which is 5.42%. | When investing 18.44% 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.
53.92
+0.14 (+0.26%)
MERCANTILE BANK CORP / MBWM FAQ
Can you provide the ChartMill technical rating for MERCANTILE BANK CORP?
ChartMill assigns a technical rating of 8 / 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 62.1895. 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 -0.0342267, 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 positive.