Independent Bank Group Stock Forecast
Independent Bank Group stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Independent Bank Group stock price gained 1.81% on the last trading day (Tuesday, 2nd Jul 2024), rising from $45.22 to $46.04. During the last trading day the stock fluctuated 2.27% from a day low at $45.06 to a day high of $46.09. The price has risen in 7 of the last 10 days and is up by 6.9% over the past 2 weeks. Volume fell on the last day by -38 thousand shares and in total, 84 thousand shares were bought and sold for approximately $3.87 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 lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.80% during the next 3 months and, with a 90% probability hold a price between $44.97 and $54.91 at the end of this 3-month period.
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IBTX Signals & Forecast
Mostly positive signals in the chart today. The Independent Bank Group 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 $44.71 and $44.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 9.44%. 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 Group stock
Independent Bank Group finds support from accumulated volume at $45.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.03 (2.27%) between high and low. For the last week, the stock has had daily average volatility of 1.95%.
Our recommended stop-loss: $44.48 (-3.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (IBTX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Independent Bank Group to open at $45.73, and during the day (based on 14 day Average True Range), to move between $44.90 and $47.18, which gives a possible trading interval of +/-$1.14 (+/-2.47%) up or down from last closing price. If Independent Bank Group takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $45.52 (1.13%) than the resistance at $46.67 (1.37%), 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 positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.804 Strong Buy Candidate Upgraded
Predicted Opening Price for Independent Bank Group of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $45.73 ( 0.677%) | $46.04 |
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 | |
|---|---|---|
| R3 | 46.75 | 1.55% |
| R2 | 46.36 | 0.699% |
| R1 | 46.12 | 0.174% |
| Price | 46.04 | |
| S1 | 45.34 | -1.53% |
| S2 | 45.09 | -2.05% |
| S3 | 44.70 | -2.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.30 | 2.74% |
| R2 | 46.82 | 1.69% |
| R1 | 46.67 | 1.37% |
| Price | 46.04 | |
| S1 | 45.52 | -1.13% |
| S2 | 43.07 | -6.45% |
| S3 | 40.55 | -11.92% |
IBTX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | May 01, 2024 | May 16, 2024 | $0.380 | 0.88% |
| 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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