Independent Bank Group Stock Forecast
Weaker technical forecast for Independent Bank Group as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The Independent Bank Group stock price fell by -3.82% on the last day (Thursday, 25th Apr 2024) from $40.82 to $39.26. During the last trading day the stock fluctuated 3.24% from a day low at $39.14 to a day high of $40.41. The price has been going up and down for this period, and there has been a -3.68% loss for the last 2 weeks. 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 -67 thousand shares and in total, 234 thousand shares were bought and sold for approximately $9.20 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $38.39 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -13.38% during the next 3 months and, with a 90% probability hold a price between $33.25 and $39.34 at the end of this 3-month period.
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IBTX Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.204%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Independent Bank Group 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 $40.54 and $42.65. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 for Independent Bank Group stock
Independent Bank Group finds support from accumulated volume at $39.18 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 $1.27 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 5.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IBTX) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Independent Bank Group to open at $39.60, and during the day (based on 14 day Average True Range), to move between $37.64 and $40.88, which gives a possible trading interval of +/-$1.62 (+/-4.12%) up or down from last closing price. If Independent Bank Group takes out the full calculated possible swing range there will be an estimated 8.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.18 (0.20%) than the resistance at $40.55 (3.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Independent Bank Group stock A Buy?
Independent Bank Group holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.255 Sell Candidate Downgraded
Predicted Opening Price for Independent Bank Group of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $39.60 ( 0.87%) | $39.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBTX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.87 | 4.11 % | |
| R2 | 40.39 | 2.87 % | ||
| R1 | 40.09 | 2.11 % | ||
| Current price: | 39.26 | |||
| Support | S1 | 39.12 | -0.361 % | |
| S2 | 38.82 | -1.12 % | ||
| S3 | 38.33 | -2.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.22 | 15.18 % | |
| R2 | 44.34 | 12.94 % | ||
| R1 | 40.55 | 3.29 % | ||
| Current price | 39.26 | |||
| Support | S1 | 39.18 | -0.204% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
IBTX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | May 01, 2024 | May 16, 2024 | $0.380 | 0.97% |
| 2 | Jan 18, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.380 | 0.81% |
| 3 | Oct 19, 2023 | Nov 01, 2023 | Nov 16, 2023 | $0.380 | 0.99% |
| 4 | Jul 20, 2023 | Aug 02, 2023 | Aug 17, 2023 | $0.380 | 0.89% |
| 5 | Apr 20, 2023 | May 03, 2023 | May 18, 2023 | $0.380 | 1.11% |
FAQ
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