MACATAWA BANK CORP (MCBC) Stock Technical Analysis
NASDAQ:MCBC - Nasdaq - US5542251021 - Common Stock - Currency: USD
We assign a technical rating of 10 out of 10 to MCBC. Both in the recent history as in the last year, MCBC has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
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 97% of 395 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.
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
8.44
15.11
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.
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. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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.
14.82
-0.13 (-0.87%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorFinancials
GICS IndustryBanks
Performance
% Chg-0.87%
1 Week1.23%
2 Weeks-0.07%
1 Month1.37%
3 Month2.77%
6 Month44.16%
12 Month53.26%
2 Year59.35%
3 Year78.13%
5 Year44.16%
10 Year215.32%
15 Year436.96%
Volatility
ATR(14)0.27
ATR(20)%1.48%
ATR Inc39.57%
Range Today0.4
ADR(20)0.22
ADR(20)%1.47%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS92.36
Mansfield1.86
10 Day High15.16
10 Day Low14.56
20 Day High15.16
20 Day Low13.85
52 Week High15.16
52 Week Low8.31
CS1 End13.46
CR1 Start14.92
Volume & EV
DER(3)0.02%
DER(5)-2.76%
Volume3.36M
Volume Incr297.33%
Vol(5)821.82K
Vol(50)218.38K