1st Source Bank trades up, short-term bullish momentum holds above $80.50 support

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1st Source up 0.28% today

Highlights

SRCE maintains a strong bullish trend, trading well above key moving averages across all timeframes.
Momentum indicators remain positive but some oscillators signal overbought, with intraday consolidation following a push toward the weekly high.
SRCE is expected to consolidate between $80.50 and $84.30; a break above $84.30 could retarget the yearly high near $86.64.

Bullish structure as price holds above key moving averages

SRCE is currently trading at $82.32, holding well above its MA-20 at $78.71, MA-50 at $75.43, and MA-200 at $67.78, which confirms a robust bullish structure across short-, medium-, and long-term trends. The Ichimoku Kijun on D1 is $79.41, which sits below the current price and now acts as immediate support; near-term support is seen at the Ichimoku Kijun ($79.41) and MA-20 ($78.71), while key support rests at MA-50 ($75.43). On the upside, near-term resistance is found at the HMA on D1 ($83.03), with key resistance at the recent weekly high of $83.77.

Diverging momentum signals as overbought readings clash with buyer strength

Momentum signals are largely bullish, with MACD (D1) and ADX (D1) both showing continued buyer strength. RSI on D1 is elevated at 68.15, leaning toward overbought, and CCI on D1 signals overbought conditions as well, while Stoch RSI on D1 flags a strong sell, highlighting a marked divergence among oscillators. BBP (D1) remains positive, suggesting buyers still dominate intraday momentum, and the Awesome Oscillator aligns with the underlying uptrend. Over the week, SRCE has risen $0.23 (0.28%) from a previous weekly close of $82.09, and the price is currently positioned in the upper part of its weekly range. Weekly volatility stands at 4.71%, with a tone of consolidation after a push toward the weekly high.

High upside probability as consolidation persists near upper range

For the coming week, the expected price range is projected between $80.50 and $84.30, keeping the action well above the 52-week low of $56.89 and within sight of the 52-week high of $86.64. Technicals on W1—RSI, MACD, ADX, and MA-50—all indicate "Buy," resulting in a very high probability (more than 80%) of an upward move, with a decline seen as much less likely. The baseline scenario suggests SRCE consolidates between $80.50 and $84.30. If bullish momentum intensifies, a break above $84.30 could target new highs closer to the yearly peak. Conversely, a bearish turn below $80.50 would expose the next support zone closer to MA-50 and the Ichimoku Kijun on D1.

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Previously it was reported that 1st Source maintained a broadly bullish technical outlook, with expectations of either continued consolidation or a potential breakout. The current article reaffirms the constructive scenario and suggests that traders monitor for a decisive move beyond recent highs as a signal for renewed momentum.

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