$IBTX Independent Bank Group Bullish Break
Bullish break above downtrend & 200MA.
Back tested as support.
Rising 50ma
MACD up-trending
Histogram bullish
Earnings impressed.
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IBTX trade ideas
Independent Bank Group Announces Reestablishment of Share RepurcIBTX: Independent Bank Group, Inc
2018-10-24 13:00:00
Independent Bank Group, Inc. Declares Quarterly Dividend and Announces Reestablishment of Share Repurchase Program
IBTX setting up for another run higherIBTX is setting up in a tight square box base (could turn into a flat base) only about 8% deep. It's getting support at the 21ema so far. There is an advanced pivot at 64. The RS line is climbing and remains near highs. IBTX is ranked #1 in its industry group and the group is ranked #3 per investors.com.
There has been very heavy buying since mid-October (see volume spikes on the chart). Within the base, volume has spiked a couple of times as IBTX has bounced off the 21ema but has been relatively quiet while IBTX has consolidated.
IBTX passed the ChartYourTrade MRI scanner this past weekend and the scanner is also showing that the Commercial Banks industry group to which IBTX belongs is starting to heat up again.
IBTX is high on my radar and for all the reasons outlined above, I'll likely establish a new position if it breaks above 64.
