We assign a technical rating of 2 out of 10 to AKAN. AKAN scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- 96% of all other stocks performed better in the past year than AKAN.
- AKAN is part of the Pharmaceuticals industry. There are 191 other stocks in this industry, of which 79% are performing better than AKAN.
- 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 0.89 - 3.40 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.
- AKAN has an average volume of 4457920 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Considerably lower volume is observed in the last couple of days.
The technical rating of AKAN is bad and it also does not present a quality setup 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.
More info and screens
0.89
When analyzing the support we notice one important area.
- Support @0.90 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 1.20 to 1.20. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | 4.89 | NEGATIVE | AKAN has a low relative strength, it was outperformed by 95.11% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of AKAN is below the rising 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) | 44.39 | NEUTRAL | The RSI value for AKAN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests AKAN has a negative trend. |
| Stochastics (14,3) | 3.37 | OVERSOLD | The low Stochastics value suggests AKAN may be oversold. |
| Average True Range in percent/ATR (20) | 49.33 | HIGH VOLATILITY | The high ATR as a percentage value for AKAN suggests high volalility. |
| Average Directional Index/ADX (14) | 34.92 | POSITIVE | The high ADX value value for AKAN suggests a strong trend. |
0.93
-0.03 (-3.12%)
AKANDA CORP / AKAN FAQ
What is the technical rating for AKAN stock?
ChartMill assigns a technical rating of 2 / 10 to AKAN.
What is the current trend direction of AKANDA CORP (AKAN) stock?
The current trend direction for AKANDA CORP (AKAN) is Bearish.
What is the RSI signal for AKANDA CORP (AKAN) stock?
AKANDA CORP (AKAN) has an RSI value of 44.385. This indicates that the stock is currently neutral.
What is the short term momentum for AKAN stock?
The short term momentum for AKANDA CORP (AKAN) is negative.
What are the support and resistance levels for AKANDA CORP (AKAN) stock?
AKANDA CORP (AKAN) has a support level at 0.9 and a resistance level at 1.2. Check the full technical report for our detailed analysis of AKAN support and resistance levels.