Independent Bank Breaks Above 200-Day Moving Average - Bullish for IBCP

In trading on Tuesday, shares of Independent Bank Corporation (IBCP) crossed above their 200 day moving average of $21.04, changing hands as high as $21.80 per share. Independent Bank Corporation shares are currently trading up about 4.8% on the day. The chart below shows the one year performance of IBCP shares, versus its 200 day moving average:

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Independent Bank Corporation  200 Day Moving Average Chart

Looking at the chart above, IBCP's low point in its 52 week range is $16.11 per share, with $23.65 as the 52 week high point — that compares with a last trade of $21.60.

According to the ETF Finder at ETF Channel, IBCP makes up 1.26% of the PowerShares DWA SmallCap Momentum Portfolio ETF ( DWAS) which is trading up by about 0.5% on the day Tuesday.

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