AKAN Technical Analysis - AKANDA CORP

Technical Rating and Analysis

Overall AKAN gets a technical rating of 0 out of 10. 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.

When comparing the yearly performance of all stocks, AKAN is a bad performer in the overall market: 98% of all stocks are doing better.

AKAN is one of the lesser performing stocks in the Pharmaceuticals industry. 88% 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 2.11 - 9.29 range, which is quite wide. It is currently trading near the lows of this range.

AKAN has an average volume of 1414010 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Volume is considerably higher in the last couple of days.

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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 not perfect at the moment. Prices have been consolidating lately and the volatility has been reduced.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.27

4.96

2 important resistance areas can be observed.

A resistance zone ranging from 2.35 to 2.38. This zone is formed by a combination of multiple trend lines and important moving averages 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	2.67	NEGATIVE	AKAN has a low relative strength, it was outperformed by 97.33% 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)	36.98	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, although the MACD value is rising.
Stochastics (14,3)	2.51	OVERSOLD	The low Stochastics value suggests AKAN may be oversold.
Average True Range in percent/ATR (20)	32.24	HIGH VOLATILITY	The high ATR as a percentage value for AKAN suggests high volalility.
Average Directional Index/ADX (14)	48.32	POSITIVE	The high ADX value value for AKAN suggests a strong trend.