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Macatawa Bank Corporation Stock Forecast NASDAQ:MCBC

$8.64 (-1.14%)

Volume: 54k

Closed: Dec 07, 2021

Hollow Logo Score: -1.499

Macatawa Bank Corporation Stock Forecast

$8.64 (-1.14%)

Volume: 54k

Closed: Dec 07, 2021

Score Hollow Logo -1.499
Which way will MCBC go? Request
Key Stats
P/E Ratio 9.40
Beta 0.7
Trailing Dividend Rate 3.61% ($0.32)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 45 and the stock is currently not being overbought or oversold

Evaluation of Macatawa Bank Corporation stock downgraded after the last trading session.
(Updated on Dec 07, 2021)


Sell candidate since 2021-12-07

The Macatawa Bank Corporation stock price fell by -1.14% on the last day (Tuesday, 7th Dec 2021) from $8.74 to $8.64. During the day the stock fluctuated 1.86% from a day low at $8.61 to a day high of $8.77. The price has been going up and down for this period, and there has been a -3.03% 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 -71 thousand shares and in total, 54 thousand shares were bought and sold for approximately $462.37 thousand.

The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.39% during the next 3 months and, with a 90% probability hold a price between $9.83 and $10.59 at the end of this 3-month period.

Signals & Forecast

The Macatawa 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 $8.56 and $8.61. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, November 24, 2021, and so far it has fallen -4.21%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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

Macatawa Bank Corporation finds support from accumulated volume at $8.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.16 between high and low, or 1.86%. For the last week the stock has had a daily average volatility of 2.28%

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is Macatawa Bank Corporation stock A Buy?

Macatawa Bank Corporation holds several negative signals and we believe that 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 Strong Buy to a Sell candidate.

Current score: -1.499

Predicted Opening Price for Macatawa Bank Corporation of Wednesday, December 8, 2021

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

Fair opening price December 8, 2021 Current price
$8.67 $8.64 (Undervalued)
Sell Candidate Downgraded

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Volatility and Risk
Daily Average Volatility: 2.28 %
Overall Risk: Very High High Medium Low Very Low
Volatility
2.28 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $8.74
Price: $8.64
Support: $8.40

MCBC Insider Trading Show all Trades

INSIDER POWER

3.140

Last 100 transactions
Buy: 203 161 | Sell: 64 702 (Shares)
Date Action Amount Person Type
Nov 29, 2021 Sell 362 Walcott Jill A Common Stock
Nov 29, 2021 Sell 278 Walcott Jill A Common Stock
Nov 29, 2021 Sell 491 Walcott Jill A Common Stock
Nov 29, 2021 Sell 619 Hankinson Craig A Common Stock
Nov 29, 2021 Sell 532 Hankinson Craig A Common Stock
Show all Insider Trades
INSIDER POWER

3.140

Last 100 transactions
Buy: 203 161 | Sell: 64 702 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 8.83 2.24 %
8.77 1.53 %
8.73 1.09 %
Current price: 8.64
Support 8.61 -0.32 %
8.57 -0.76 %
8.51 -1.47 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 8.80 1.85 %
8.76 1.39 %
8.74 1.16 %
Current price 8.64
Support 8.40 -2.78%
8.14 -5.79%
7.50 -13.19%

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About Macatawa Bank Corporation

Macatawa Bank Corporation operates as the bank holding company for Macatawa Bank that provides commercial and personal banking services primarily in Western Michigan. The company’s deposit products include checking accounts, savings accounts and time deposits, regular and money market savings accounts, and certificates of deposit. Its loan products portfolio comprises commercial and industrial loans offered to finance operations and equipment; c... Read more

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