Technical Analysis for MBWM - Mercantile Bank Corporation

Grade Last Price % Change Price Change
grade B 37.08 -0.59% -0.22
MBWM closed down 0.59 percent on Friday, October 20, 2017, on 2.72 times normal volume. The price action carved out a bullish hammer (or hammer-like) candlestick pattern. That may indicate an upside reversal. Look for price to trade above the high of the hammer for confirmation. Note that the stock is in overbought territory based on its Slow Stochastic indicator (14, 3, 3) -- sideways movement or a pullback should not be unexpected.
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Trend Table & Recent Alerts
ADX Long-Term Intermediate-Term Short-Term
Weak or Absent Up Up Up
See historical MBWM trend table...

Date Alert Name Type % Chg
Oct 20 Wide Range Bar Range Expansion 0.00%
Oct 20 Hammer Candlestick Bullish 0.00%
Oct 20 Bearish Engulfing Bearish 0.00%
Oct 20 Lizard Bullish Bullish Day Trade Setup 0.00%
Oct 20 Golden Cross Bullish 0.00%

Older signals for MBWM ...

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Basic chart:

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides financial products and services primarily to small-to medium-sized businesses, individuals, and governmental units. The company offers various deposit products, including checking accounts, savings deposits, money market accounts, certificates of deposit, demand deposits, time deposits, and security repurchase agreements. Its loan portfolio comprises secured and unsecured commercial loans, such as loans and leases for working capital, accounts receivable financing, and machinery and equipment acquisition; commercial real estate financing loans consisting of new construction and land development; single-family residential real estate loans; home equity line of credit programs; multi-family and residential rental property loans; and consumer loans, such as loans for new and used automobiles, boats, credit cards, and overdraft protection. In addition, the company provides courier services and safe deposit facilities; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products. As of April 16, 2013, it operated seven full-service banking offices in Grand Rapids, Holland, and Lansing areas in Michigan. Mercantile Bank Corporation also operates seven automated teller machines. The company was founded in 1997 and is headquartered in Grand Rapids, Michigan.
Is MBWM a Buy, Sell or Hold?
Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength
Summary: Counts: 3 bullish, 0 bearish and 2 neutral indicators. You may wish to incorporate that into your trading strategies.
Indicator Value
52 Week High 38.4566
52 Week Low 26.327
Average Volume 32,755
200-Day Moving Average 32.7264
50-Day Moving Average 32.7986
20-Day Moving Average 35.535
10-Day Moving Average 36.102
Average True Range 1.1586
ADX 19.42
+DI 22.13
-DI 32.06
Chandelier Exit (Long, 3 ATRs ) 34.4642
Chandelier Exit (Short, 3 ATRs ) 35.7658
Upper Bollinger Band 37.3561
Lower Bollinger Band 33.7139
Percent B (%b) 0.92
BandWidth 10.249613
MACD Line 1.1296
MACD Signal Line 1.0614
MACD Histogram 0.0682
Fundamentals Value
Market Cap 611.16 Million
Num Shares 16.5 Million
EPS 1.88
Price-to-Earnings (P/E) Ratio 19.72
Price-to-Sales 4.76
Price-to-Book 1.62
PEG Ratio 2.32
Dividend 0.76
Dividend Yield 2.05%
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 43.37
Resistance 3 (R3) 42.95 40.45 42.32
Resistance 2 (R2) 40.45 38.85 40.65 41.97
Resistance 1 (R1) 38.76 37.86 37.51 39.18 41.62
Pivot Point 36.26 36.26 35.63 36.46 36.26
Support 1 (S1) 34.57 34.66 33.32 34.99 32.54
Support 2 (S2) 32.07 33.67 32.27 32.19
Support 3 (S3) 30.38 32.07 31.84
Support 4 (S4) 30.80