Independent Bank Corporation Stock Forecast
Stronger technical forecast for Independent Bank Corporation stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Independent Bank Corporation stock price gained 0.199% on the last trading day (Thursday, 25th Apr 2024), rising from $25.12 to $25.17. During the last trading day the stock fluctuated 2.66% from a day low at $25.00 to a day high of $25.66. The price has risen in 6 of the last 10 days and is up by 7.29% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 70 thousand more shares were traded than the day before. In total, 153 thousand shares were bought and sold for approximately $3.85 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $25.27 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.01% during the next 3 months and, with a 90% probability hold a price between $22.08 and $24.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IBCP Signals & Forecast
The Independent Bank Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $24.46 and $24.22. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.514%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Independent Bank Corporation stock
Independent Bank Corporation finds support from accumulated volume at $24.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.665 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: $24.16 (-4.02%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (IBCP) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Independent Bank Corporation to open at $25.28, and during the day (based on 14 day Average True Range), to move between $24.50 and $25.84, which gives a possible trading interval of +/-$0.671 (+/-2.67%) up or down from last closing price. If Independent Bank Corporation takes out the full calculated possible swing range there will be an estimated 5.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.44 (1.07%) than the support at $24.56 (2.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Independent Bank Corporation stock A Buy?
Independent Bank Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: 0.481 Hold/Accumulate Upgraded
Predicted Opening Price for Independent Bank Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $25.28 ( 0.417%) | $25.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBCP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.94 | 3.06 % | |
| R2 | 25.69 | 2.05 % | ||
| R1 | 25.53 | 1.43 % | ||
| Current price: | 25.17 | |||
| Support | S1 | 25.02 | -0.592 % | |
| S2 | 24.86 | -1.22 % | ||
| S3 | 24.61 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.00 | 7.27 % | |
| R2 | 25.48 | 1.23 % | ||
| R1 | 25.44 | 1.07 % | ||
| Current price | 25.17 | |||
| Support | S1 | 24.56 | -2.42% | |
| S2 | 24.38 | -3.14% | ||
| S3 | 23.96 | -4.81% |
IBCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | May 02, 2024 | May 13, 2024 | $0.240 | 0.95% |
| 2 | Jan 23, 2024 | Feb 02, 2024 | Feb 15, 2024 | $0.240 | 0.94% |
| 3 | Oct 17, 2023 | Nov 02, 2023 | Nov 13, 2023 | $0.230 | 1.10% |
| 4 | Jul 18, 2023 | Aug 03, 2023 | Aug 14, 2023 | $0.230 | 1.12% |
| 5 | Apr 25, 2023 | May 04, 2023 | May 15, 2023 | $0.230 | 1.44% |
FAQ
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