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.
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Mercantile Bank Corporation stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy candidate since Mar 27, 2024 PDF

The Mercantile Bank Corporation stock price gained 3.17% on the last trading day (Wednesday, 27th Mar 2024), rising from $36.87 to $38.04. During the last trading day the stock fluctuated 3.37% from a day low at $36.80 to a day high of $38.04. The price has risen in 5 of the last 10 days and is up by 4.42% 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, 1 thousand more shares were traded than the day before. In total, 59 thousand shares were bought and sold for approximately $2.25 million.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.34% during the next 3 months and, with a 90% probability hold a price between $30.64 and $35.75 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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MBWM Signals & Forecast

Mostly positive signals in the chart today. The Mercantile Bank Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $36.97 and $37.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 7.76%. 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 is rising along with the price. This is considered to be a good technical signal.

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

Mercantile Bank Corporation finds support from accumulated volume at $37.13 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 $1.24 (3.37%) between high and low. For the last week, the stock has had daily average volatility of 2.27%.

Our recommended stop-loss: $36.45 (-4.17%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (MBWM) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Mercantile Bank Corporation to open at $37.63, and during the day (based on 14 day Average True Range), to move between $36.94 and $39.14, which gives a possible trading interval of +/-$1.10 (+/-2.89%) up or down from last closing price. If Mercantile Bank Corporation takes out the full calculated possible swing range there will be an estimated 5.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $38.44 (1.05%) than the support at $37.13 (2.39%), 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 Mercantile Bank Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.753 Buy Candidate Upgraded

Predicted Opening Price for Mercantile Bank Corporation of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$37.63 ( 1.09%) $38.04

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for MBWM

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 38.87 2.17 %
R2 38.39 0.93 %
R1 38.10 0.159 %
Current price: 38.04
Support S1 37.15 -2.33 %
S2 36.86 -3.10 %
S3 36.39 -4.35 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 40.47 6.39 %
R2 39.05 2.66 %
R1 38.44 1.05 %
Current price 38.04
Support S1 37.13 -2.39%
S2 36.98 -2.79%
S3 35.72 -6.10%

MBWM Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jan 11, 2024 Feb 29, 2024 Mar 13, 2024 $0.350 0.96%
2 Oct 12, 2023 Nov 30, 2023 Dec 13, 2023 $0.340 0.85%
3 Jul 13, 2023 Aug 31, 2023 Sep 13, 2023 $0.340 1.06%
4 Apr 13, 2023 Jun 01, 2023 Jun 14, 2023 $0.330 1.12%
5 Jan 12, 2023 Mar 02, 2023 Mar 15, 2023 $0.330 1.05%

FAQ

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

Should I buy or sell Mercantile Bank Corporation Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy Mercantile Bank Corporation Stock?
Mercantile 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 Mercantile Bank Corporation Stock.

What's the current price of Mercantile Bank Corporation Stock?
As of the end of day on the 2024-03-27, the price of an Mercantile Bank Corporation (MBWM) share was $38.04.

What is the 52-week high and low for Mercantile Bank Corporation Stock?
The 52-week high for Mercantile Bank Corporation Stock is $42.82 and the 52-week low is $23.89.

What is the market capitalization of Mercantile Bank Corporation Stock?
As of the 2024-03-27, the market capitalization of Mercantile Bank Corporation is 594.219M.

When is the next earnings date for Mercantile Bank Corporation?
The upcoming earnings date for Mercantile Bank Corporation is Apr 16, 2024.
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About Mercantile Bank Corporation

Mercantile Bank Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also offers commercial and industrial loans; vacant land, land developme... MBWM Profile

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