MACATAWA BANK CORP (MCBC) Technical Analysis
NASDAQ:MCBC • US5542251021
Current stock price
MCBC Technical Rating and Analysis
Overall MCBC gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, MCBC is showing a nice and steady performance.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, MCBC did better than 92% of all other stocks.
- MCBC is one of the better performing stocks in the Banks industry, it outperforms 100% of 376 stocks in the same industry.
- MCBC is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month MCBC has a been trading in the 13.85 - 15.16 range, which is quite wide. It is currently trading near the high of this range.
- Prices have been consolidating recently, this may present a good entry opportunity.
- Volume is considerably higher in the last couple of days.
MCBC Weekly and Daily overview Charts
MCBC Setup Rating and Analysis
Besides having an excellent technical rating, MCBC also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 14.92. Right above this resistance zone may be a good entry point. Another positive sign is the recent Pocket Pivot signal.
- 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
MCBC Support and Resistance Analysis
8.44
We found 4 important support areas.
- A support zone ranging from 13.46 to 13.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 9.88 to 9.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 9.23 to 9.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.53 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 14.92 to 14.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
MCBC Technical Indicator Signal Analysis
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 MCBC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MCBC is up. |
| ChartMill Relative Strength | 92.36 | POSITIVE | MCBC has a high relative strength, it outperformed 92.36% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MCBC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MCBC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MCBC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.78 | NEUTRAL | The RSI value for MCBC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests MCBC has a negative trend. |
| Stochastics (14,3) | 83.3 | OVERBOUGHT | The high Stochastics value suggests MCBC may be overbought. |
| Average True Range in percent/ATR (20) | 1.48 | LOW VOLATILITY | The low ATR as a percentage value for MCBC suggests low volalility. |
| Average Directional Index/ADX (14) | 23.65 | NEUTRAL | The ADX value for MCBC suggests a possible start of a new trend. |
MCBC Chart- and CandleStick Pattern Analysis
MCBC Example Setup
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 |
|---|---|---|---|
| 14.97 | 14.55 | 0.42 (2.81%) | 25.00% |
| An entry @14.97. This is a Buy Stop order right above the resistance zone. | An exit @14.55. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.42 points, which is 2.81%. | For a 0.70% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
MCBC Technicals: Chart, Performance Metrics, Trend & Indicators
14.82
-0.13 (-0.87%)
MACATAWA BANK CORP / MCBC TA FAQ
What is the technical rating for MCBC stock?
ChartMill assigns a technical rating of 10 / 10 to MCBC.
What is the trend direction for MCBC stock?
The current trend direction for MACATAWA BANK CORP (MCBC) is Bullish.
What is the RSI signal for MACATAWA BANK CORP (MCBC) stock?
MACATAWA BANK CORP (MCBC) has an RSI value of 56.7794. This indicates that the stock is currently neutral.
What is the MACD signal for MCBC stock?
The MACD indicator for MACATAWA BANK CORP (MCBC) has a value of -0.0192512, indicating a bearish trend.
What is the support and resistance level for MCBC stock?
MACATAWA BANK CORP (MCBC) has a support level at 13.46 and a resistance level at 14.92. Check the full technical report for our detailed analysis of MCBC support and resistance levels.