Independent Bank Corp. Stock Forecast
Green day on Wednesday for Independent Bank Corp.
(Updated on Apr 24, 2024)
The Independent Bank Corp. stock price gained 1.34% on the last trading day (Wednesday, 24th Apr 2024), rising from $52.22 to $52.92. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.65% from a day low at $50.79 to a day high of $53.16. The price has risen in 9 of the last 10 days and is up by 11.43% 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, 101 thousand more shares were traded than the day before. In total, 456 thousand shares were bought and sold for approximately $24.16 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $53.34 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.78% during the next 3 months and, with a 90% probability hold a price between $40.88 and $47.06 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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INDB Signals & Forecast
The Independent Bank Corp. 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 $50.42 and $50.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 11.43%. 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 Independent Bank Corp. stock
Independent Bank Corp. finds support from accumulated volume at $50.56 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $2.36 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 3.79%.
Since the Independent Bank Corp. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $50.99 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (INDB) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Independent Bank Corp. to open at $52.29, and during the day (based on 14 day Average True Range), to move between $51.35 and $54.49, which gives a possible trading interval of +/-$1.57 (+/-2.97%) up or down from last closing price. If Independent Bank Corp. takes out the full calculated possible swing range there will be an estimated 5.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $54.60 (3.17%) than the support at $50.56 (4.46%), 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 Independent Bank Corp. stock A Buy?
Independent Bank Corp. 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Independent Bank Corp. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $52.29 ( 1.19%) | $52.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INDB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.65 | 3.27 % | |
| R2 | 53.75 | 1.57 % | ||
| R1 | 53.19 | 0.513 % | ||
| Current price: | 52.92 | |||
| Support | S1 | 51.39 | -2.90 % | |
| S2 | 50.83 | -3.95 % | ||
| S3 | 49.92 | -5.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.23 | 13.81 % | |
| R2 | 55.75 | 5.35 % | ||
| R1 | 54.60 | 3.17 % | ||
| Current price | 52.92 | |||
| Support | S1 | 50.56 | -4.46% | |
| S2 | 49.93 | -5.65% | ||
| S3 | 49.13 | -7.16% |
INDB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 28, 2024 | Apr 05, 2024 | $0.570 | 1.16% |
| 2 | Dec 14, 2023 | Dec 22, 2023 | Jan 05, 2024 | $0.550 | 0.86% |
| 3 | Sep 21, 2023 | Sep 29, 2023 | Oct 06, 2023 | $0.550 | 1.14% |
| 4 | Jun 15, 2023 | Jun 23, 2023 | Jul 07, 2023 | $0.550 | 1.19% |
| 5 | Mar 16, 2023 | Mar 24, 2023 | Apr 06, 2023 | $0.550 | 0.86% |
FAQ
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