Horizon Bancorp Inc

HBNC has rolled over from recent highs after a Bearish Pivot Point signaled a failure of the advance, leading to tight tracking below the 9/20 EMAs and confirming a downtrend into oversold RSI territory. The medium-term bias is now bearish, warranting a sell now stance, although the long-term uptrend remains intact with potential support at longer-term moving averages.

• ↑EPS expected to recover from -$3.24 to $2.09 next year.
• ↑Q2 net income $24.9M; ROA >1.6% and ROE ~16%.
• ↓Negative P/E of -6.17x and 59.6% discount to fair value.