SOUTHSTATE BANK CORP (SSB) Stock Technical Analysis
NYSE:SSB • US84472E1029
Taking everything into account, SSB scores 7 out of 10 in our technical rating. Although SSB is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- In the last month SSB has a been trading in the 99.24 - 108.46 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been consolidating recently, but much resistance may still be present above.
- The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
- SSB 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 SSB is lagging the market slightly.
- When compared to the yearly performance of all other stocks, SSB outperforms 59% of them, which is more or less in line with the market.
- SSB is part of the Banks industry. There are 379 other stocks in this industry, SSB did better than 41% of them.
SSB has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 106.61. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 100.32, a Stop Loss order could be placed below this zone. 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.
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84.28
4 important support areas can be observed.
- A support zone ranging from 99.87 to 100.32. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @91.48 from a trend line in the weekly time frame.
- A support zone ranging from 87.10 to 87.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @85.13 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 106.61 to 107.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @110.93 from a horizontal line 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 | UP | POSITIVE | The long term trend for SSB is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SSB is neutral. |
| ChartMill Relative Strength | 59.66 | NEUTRAL | SSB is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of SSB is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SSB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SSB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.98 | NEUTRAL | The RSI value for SSB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.7 | NEGATIVE | The MACD value suggests SSB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 16.65 | OVERSOLD | The low Stochastics value suggests SSB may be oversold. |
| Average True Range in percent/ATR (20) | 2.68 | MEDIUM VOLATILITY | The ATR as a percentage value for SSB suggests some volalility. |
| Average Directional Index/ADX (14) | 25.32 | POSITIVE | The high ADX value value for SSB suggests a strong 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 |
|---|---|---|---|
| 103.02 | 99.86 | 3.16 (3.07%) | 25.00% |
| An entry @103.02. This is a Buy Stop order right above the 10 day moving average. | An exit @99.86. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.16 points, which is 3.07%. | For a 0.77% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of SSB. Please evaluate whether better entry and exit points can be found.
- 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.
102.47
+2.6 (+2.6%)
SOUTHSTATE BANK CORP / SSB FAQ
What is the ChartMill technical rating of SOUTHSTATE BANK CORP (SSB) stock?
ChartMill assigns a technical rating of 7 / 10 to SSB.
What is the current trend direction of SOUTHSTATE BANK CORP (SSB) stock?
The current trend direction for SOUTHSTATE BANK CORP (SSB) is Bullish.
What is the RSI signal for SOUTHSTATE BANK CORP (SSB) stock?
SOUTHSTATE BANK CORP (SSB) has an RSI value of 50.977. This indicates that the stock is currently neutral.
What is the MACD signal for SSB stock?
The MACD indicator for SOUTHSTATE BANK CORP (SSB) has a value of -0.696, indicating a bearish trend.