Daily Technical Analysis (Elliotwave) Message Board

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Technology Stocks : Daily Technical Analysis (Elliotwave)

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From: more100	12/3/2015 4:15:05 AM
	of 37

IBCP The Chart of the Day belongs to the Independent Bank Corp (IBCP). I found the stock by using Barchart to sort the Russell 3000 Index stocks first for the highest number of new highs in the last 20 trading session, next for technical buy signals of 80% or more and last I review the charts using the Flipchart feature. Since the Trend Spotter signaled a buy on 9/24 the stock gained 5.71%. 88% Barchart technical buy signals Trend Spotter buy signal Above its 20, 50 and 100 day moving averages 15 new highs and up 5.89% in the last month Relative Strength Index 60.28% Barchart computes a technical support level at 15.25 Recently traded at 15.60 with a 50 day moving average of 14.87 Fundamental factors: Market Cap $351.78 million P/E 19.63 Dividend yield 2.06% Revenue expected to grow 2.20%N this year and another 3.80% next year Earnings estimated to increase 12.00% this year, an additional 13.10% next year and continue to increase at an annual rate of 5.00% for the next 5 years Wall Street analysts issued 1 buy and 2 hold recommendation on the stock The 20-100 Day MACD Oscillator has been a reliable technical trading strategy for this stock.

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