AKANDA CORP (AKAN) Stock Technical Analysis
NASDAQ:AKAN - CA00971M4039 - Common Stock
3.45 USD
-0.09 (-2.54%)
3.39 USD
-0.06 (-1.74%)
We assign a technical rating of 0 out of 10 to AKAN. 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: 95% of all stocks are doing better.
AKAN is one of the lesser performing stocks in the Pharmaceuticals industry. 75% of 195 stocks in the same industry do better.
AKAN is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
In the last month AKAN has a been trading in the 3.22 - 4.56 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
Considerably lower volume is observed in the last couple of days.
AKAN has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 3.44, a Stop Loss order could be placed below this zone.
More info and screens
3.31
4.48
2 important support areas can be observed.
- A support zone ranging from 3.43 to 3.44. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Support @3.34 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 4.30 to 4.34. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @4.44 from a horizontal line in the daily time frame.
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 | 5.96 | NEGATIVE | AKAN has a low relative strength, it was outperformed by 94.04% 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) | 41.2 | NEUTRAL | The RSI value for AKAN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests AKAN has a negative trend. |
| Stochastics (14,3) | 26.04 | NEUTRAL | The Stochastics value for AKAN is a neutral value. |
| Average True Range in percent/ATR (20) | 12.14 | HIGH VOLATILITY | The high ATR as a percentage value for AKAN suggests high volalility. |
| Average Directional Index/ADX (14) | 26.45 | POSITIVE | The high ADX value value for AKAN suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
3.45
-0.09 (-2.54%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg-2.54%
1 Week-14.39%
2 Weeks-15.73%
1 Month-14.42%
3 Month-18.82%
6 Month-31%
12 Month-49.85%
2 Year-97.4%
3 Year-99.7%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.4
ATR(20)%12.14%
ATR Inc-36.1%
Range Today0.2
ADR(20)0.39
ADR(20)%11.45%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS5.96
Mansfield-3.31
10 Day High4.39
10 Day Low3.22
20 Day High4.56
20 Day Low3.22
52 Week High8.75
52 Week Low2.91
CS1 End3.44
CR1 Start4.3
Volume & EV
DER(3)-8.91%
DER(5)-10.99%
Volume21.30K
Volume Incr-92.46%
Vol(5)63.56K
Vol(50)374.48K