RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of IBCP
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Green day on Tuesday for Independent Bank Corporation stock after gaining 3.10%
(Updated on Jul 23, 2024)

Buy or Hold candidate since Jun 24, 2024 Gain 35.57% PDF

The Independent Bank Corporation stock price gained 3.10% on the last trading day (Tuesday, 23rd Jul 2024), rising from $32.27 to $33.27. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.62% from a day low at $32.22 to a day high of $33.71. The price has risen in 9 of the last 10 days and is up by 26.21% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 122 thousand shares were bought and sold for approximately $4.06 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $29.54, a level that may pose a second chance to hit a runner. According to fan-theory $33.72 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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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 $31.60 and $26.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 05, 2024, and so far it has risen 30.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Independent Bank Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $29.64 and $27.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Independent Bank Corporation finds support just below today's level at $29.64. If this is broken, then the next support from accumulated volume will be at $27.00 and $25.04.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.49 between high and low, or 4.62%. For the last week, the stock has had daily average volatility of 4.08%.

The Independent Bank Corporation stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $32.34 (-2.80%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (IBCP) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Independent Bank Corporation to open at $33.07, and during the day (based on 14 day Average True Range), to move between $32.26 and $34.28, which gives a possible trading interval of +/-$1.01 (+/-3.04%) up or down from last closing price. If Independent Bank Corporation takes out the full calculated possible swing range there will be an estimated 6.08% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $29.64, some $3.63 (10.91%) from the current price of $33.27, our system finds the risk reward attractive.

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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Independent Bank Corporation of Wednesday, July 24, 2024

Fair opening price July 24, 2024 Current price
$33.07 ( 0.611%) $33.27

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
R3 34.56 3.87%
R2 33.99 2.16%
R1 33.64 1.10%
Price 33.27
S1 32.50 -2.32%
S2 32.15 -3.38%
S3 31.58 -5.09%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0 -
R2 0 -
R1 0 -
Price 33.27
S1 29.64 -10.91%
S2 27.00 -18.85%
S3 25.04 -24.74%

IBCP Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 23, 2024 May 02, 2024 May 13, 2024 $0.240 0.93%
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

What is the symbol for Independent Bank Corporation Stock and on which exchange is it traded?
The symbol for Independent Bank Corporation is IBCP and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Independent Bank Corporation Stock?
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.

How to buy Independent Bank Corporation Stock?
Independent Bank Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Independent Bank Corporation Stock.

What's the current price of Independent Bank Corporation Stock?
As of the end of day on the Jul 23, 2024, the price of an Independent Bank Corporation (IBCP) share was $33.27.

What is the 52-week high and low for Independent Bank Corporation Stock?
The 52-week high for Independent Bank Corporation Stock is $33.71 and the 52-week low is $16.92.

What is the market capitalization of Independent Bank Corporation Stock?
As of the Jul 23, 2024, the market capitalization of Independent Bank Corporation is 674.52M.

When is the next earnings date for Independent Bank Corporation?
The upcoming earnings date for Independent Bank Corporation is Jul 25, 2024.
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About Independent Bank Corporation

Independent Bank Independent Bank Corporation operates as the bank holding company for Independent Bank that provides various banking services to individuals and businesses. The company offers checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services, as well as automatic teller machine, and Internet and mobile banking services. It also provides title insurance, insurance brokerage, ... IBCP Profile

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