AKAN Technical Analysis - AKANDA CORP

Technical Rating and Analysis

Overall AKAN gets a technical rating of 0 out of 10. AKAN's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

When comparing the yearly performance of all stocks, AKAN is a bad performer in the overall market: 97% of all stocks are doing better.

AKAN is part of the Pharmaceuticals industry. There are 191 other stocks in this industry, of which 85% are performing better than AKAN.

AKAN is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.

In the last month AKAN has a been trading in the 2.11 - 9.29 range, which is quite wide. It is currently trading near the lows of this range.

Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.

AKAN has an average volume of 1439230 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

AKAN has a poor technical rating and the quality of the setup is also only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.14

4.96

We found 1 important support area.

A support zone ranging from 2.16 to 2.16. This zone is formed by a combination of multiple trend lines in multiple time frames.

2 important resistance areas can be observed.

Resistance @2.38 from a horizontal line in the daily time frame.
Resistance @4.91 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for AKAN is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for AKAN is down.
ChartMill Relative Strength	3.1	NEGATIVE	AKAN has a low relative strength, it was outperformed by 96.9% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of AKAN is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of AKAN is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of AKAN is below a declining SMA(200).
Relative Strength Index/RSI (14)	35.32	NEUTRAL	The RSI value for AKAN is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.03	NEGATIVE	The MACD value suggests AKAN has a negative trend, although the MACD value is rising.
Stochastics (14,3)	4.78	OVERSOLD	The low Stochastics value suggests AKAN may be oversold.
Average True Range in percent/ATR (20)	32.88	HIGH VOLATILITY	The high ATR as a percentage value for AKAN suggests high volalility.
Average Directional Index/ADX (14)	49.32	POSITIVE	The high ADX value value for AKAN suggests a strong trend.