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$18.78 (-0.16%)

Volume: 136.145k

Closed: Sep 26, 2022

Hollow Logo Score: -0.502

Horizon Bancorp (IN) Stock Forecast

$18.78 (-0.16%)

Volume: 136.145k

Closed: Sep 26, 2022

Score Hollow Logo -0.502
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 53 and the stock is currently not being overbought or oversold
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Horizon Bancorp (IN) stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Sep 26, 2022)

Hold candidate since 2022-09-26 PDF

The Horizon Bancorp (IN) stock price fell by -0.16% on the last day (Monday, 26th Sep 2022) from $18.81 to $18.78. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.71% from a day low at $18.73 to a day high of $19.05. The price has fallen in 6 of the last 10 days and is down by -2.39% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -19 thousand shares and in total, 136 thousand shares were bought and sold for approximately $2.56 million.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $18.40 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.55% during the next 3 months and, with a 90% probability hold a price between $20.34 and $23.77 at the end of this 3-month period.

Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Horizon Bancorp (IN) stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $19.04 and $19.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, August 16, 2022, and so far it has fallen -8.79%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

Horizon Bancorp (IN) finds support from accumulated volume at $18.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.32 between high and low, or 1.71%. For the last week the stock has had daily average volatility of 2.46%.

Our recommended stop-loss: $17.78 (-5.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations For The Upcoming Trading Day Of Tuesday 27th

For the upcoming trading day on Tuesday, 27th we expect Horizon Bancorp (IN) to open at $18.85, and during the day (based on 14 day Average True Range), to move between $18.32 and $19.24, which gives a possible trading interval of +/-$0.46 (+/-2.46%) up or down from last closing price. If Horizon Bancorp (IN) takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $18.77 (0.05%) than the resistance at $19.10 (1.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Horizon Bancorp (IN) stock A Buy?

Horizon Bancorp (IN) holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.502

Hold/Accumulate Upgraded

Predicted Opening Price for Horizon Bancorp (IN) of Tuesday, September 27, 2022

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price September 27, 2022 Current price
$18.85 $18.78 (Undervalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 19.17 2.09 %
19.05 1.44 %
18.98 1.04 %
Current price: 18.78
Support 18.73 -0.26 %
18.66 -0.66 %
18.53 -1.31 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 19.26 2.56 %
19.24 2.45 %
19.10 1.70 %
Current price 18.78
Support 18.77 -0.0532%
18.66 -0.64%
17.42 -7.24%

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About Horizon Bancorp (IN)

Horizon Ban (IN) Horizon Bancorp, Inc. operates as the bank holding company for Horizon Bank that provides a range of commercial and retail banking services. The company offers various deposits. It also provides commercial, residential real estate, mortgage warehouse, and consumer loans. In addition, the company offers corporate and individual trust and agency, investment management, and real estate investment trust services; and sells various insurance products.... HBNC Profile

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