First Internet Bancorp Stock Forecast
Red day on Wednesday for First Internet Bancorp stock after losing 0.406%
(Updated on Sep 20, 2023)
The First Internet Bancorp stock price fell by -0.406% on the last day (Wednesday, 20th Sep 2023) from $17.24 to $17.17. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.80% from a day low at $17.17 to a day high of $18.00. The price has fallen in 8 of the last 10 days and is down by -8.52% 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 -3 thousand shares and in total, 21 thousand shares were bought and sold for approximately $355.99 thousand.
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Given the current short-term trend, the stock is expected to rise 18.53% during the next 3 months and, with a 90% probability hold a price between $20.35 and $29.91 at the end of this 3-month period.
INBK 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 First Internet Bancorp 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 $17.76 and $19.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, August 07, 2023, and so far it has fallen -26.28%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for First Internet Bancorp stock
On the downside, the stock finds support just below today's level from accumulated volume at $15.47 and $14.82. 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, First Internet Bancorp finds support just below today's level at $15.47. If this is broken, then the next support from accumulated volume will be at $14.82 and $14.73.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.82 between high and low, or 4.80%. For the last week the stock has had daily average volatility of 3.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INBK) For The Upcoming Trading Day Of Thursday 21st
For the upcoming trading day on Thursday, 21st we expect First Internet Bancorp to open at $17.45, and during the day (based on 14 day Average True Range), to move between $16.41 and $17.93, which gives a possible trading interval of +/-$0.763 (+/-4.44%) up or down from last closing price. If First Internet Bancorp takes out the full calculated possible swing range there will be an estimated 8.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $15.47 (9.90%) than the resistance at $19.35 (12.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is First Internet Bancorp stock A Buy?
The First Internet Bancorp stock holds several negative signals and despite the positive trend, we believe First Internet Bancorp will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.423 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for First Internet Bancorp of Thursday, September 21, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Fair opening price September 21, 2023 | Current price |
---|---|
$17.45 | $17.17 (Undervalued) |
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Trading levels for INBK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 18.27 | 6.41 % | |
R2 | 17.95 | 4.57 % | ||
R1 | 17.76 | 3.44 % | ||
Current price: | 17.17 | |||
Support | S1 | 17.13 | -0.234 % | |
S2 | 16.94 | -1.37 % | ||
S3 | 16.62 | -3.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 21.16 | 23.24 % | |
R2 | 20.48 | 19.28 % | ||
R1 | 19.35 | 12.70 % | ||
Current price | 17.17 | |||
Support | S1 | 15.47 | -9.90% | |
S2 | 14.82 | -13.69% | ||
S3 | 14.73 | -14.21% |
FAQ
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About First Internet Bancorp
First Internet Bancorp operates as the bank holding company for First Internet Bank of Indiana that provides commercial and retail banking products and services to individuals and commercial customers in the United States. The company accepts non-interest bearing and interest-bearing demand deposit, savings, money market, and brokered deposit accounts, as well as certificates of deposit. It also offers commercial and industrial, owner-occupied an... INBK Profile
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