First Internet Bancorp Stock Forecast
Green day on Wednesday for First Internet Bancorp
(Updated on Apr 24, 2024)
The First Internet Bancorp stock price gained 1.16% on the last trading day (Wednesday, 24th Apr 2024), rising from $32.89 to $33.27. During the last trading day the stock fluctuated 1.83% from a day low at $32.84 to a day high of $33.44. The price has risen in 6 of the last 10 days and is up by 5.96% over the past 2 weeks. Volume fell on the last day by -31 thousand shares and in total, 45 thousand shares were bought and sold for approximately $1.51 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 weak 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 3.28% during the next 3 months and, with a 90% probability hold a price between $31.95 and $36.43 at the end of this 3-month period.
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INBK Signals & Forecast
The First Internet Bancorp 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 $31.93 and $32.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 7.32%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 $31.00 and $30.43. 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 $31.00. If this is broken, then the next support from accumulated volume will be at $30.43 and $29.70.
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 $0.600 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $32.17 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (INBK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect First Internet Bancorp to open at $33.18, and during the day (based on 14 day Average True Range), to move between $32.15 and $34.39, which gives a possible trading interval of +/-$1.12 (+/-3.36%) up or down from last closing price. If First Internet Bancorp takes out the full calculated possible swing range there will be an estimated 6.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.72 (1.35%) than the support at $31.00 (6.82%), 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 First Internet Bancorp stock A Buy?
First Internet Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.361 Hold/Accumulate Unchanged
Predicted Opening Price for First Internet Bancorp of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$33.18 ( 0.260%) | $33.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INBK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.78 | 1.54 % | |
R2 | 33.55 | 0.85 % | ||
R1 | 33.41 | 0.428 % | ||
Current price: | 33.27 | |||
Support | S1 | 32.95 | -0.95 % | |
S2 | 32.81 | -1.38 % | ||
S3 | 32.58 | -2.06 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.74 | 4.42 % | |
R2 | 34.21 | 2.83 % | ||
R1 | 33.72 | 1.35 % | ||
Current price | 33.27 | |||
Support | S1 | 31.00 | -6.82% | |
S2 | 30.43 | -8.54% | ||
S3 | 29.70 | -10.73% |
INBK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.0600 | 0.193% |
2 | Dec 28, 2023 | Dec 28, 2023 | Jan 16, 2024 | $0.0600 | 0.237% |
3 | Sep 19, 2023 | Sep 28, 2023 | Oct 16, 2023 | $0.0600 | 0.353% |
4 | Aug 06, 2023 | Jun 29, 2023 | Jul 17, 2023 | $0.0600 | 0.362% |
5 | Jun 28, 2023 | Mar 30, 2023 | Apr 17, 2023 | $0.0600 | 0.375% |
FAQ
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