Horizon Bancorp Inc

The stock is in a Stage 3 distribution phase, with lower highs and weakening momentum at the short‐term EMAs. The medium‐term bias is bearish, confirmed by down‐volume dominance and flattening EMAs. Short‐term conditions are unfavorable for buys, with RSI rolling over from overbought and recent rejection off the 9/21 EMA zone. Execution should occur now, selling into resistance around the EMA region.

• ↑Q1 revenue grew 12% YoY to $54.6M led by $34.2M commercial loan increase.
• ↑ROAA above 1.60% and tangible common equity ratio above 19% show strong profitability.
• ↓Negative profitability factor highlights margin pressure risk if conditions worsen.