AKAN Technical Analysis - AKANDA CORP

Technical Rating and Analysis

We assign a technical rating of 0 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.

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

95% of all other stocks performed better in the past year than AKAN.

AKAN is part of the Pharmaceuticals industry. There are 196 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 3.14 - 4.39 range, which is quite wide. It is currently trading near the lows of this range.

Considerably lower volume is observed 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 bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. We notice that large players showed an interest for AKAN in the last couple of days, which is a good sign.

Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

3.24

4.48

When analyzing the support we can see 2 important areas.

Support @3.38 from a horizontal line in the weekly time frame.
A support zone ranging from 3.27 to 3.28. This zone is formed by a combination of multiple trend lines in the daily time frame.

When analyzing the resistance we notice 4 important areas.

A resistance zone ranging from 3.58 to 3.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @4.24 from a trend line in the daily time frame.
Resistance @4.34 from a horizontal line in the daily time frame.
Resistance @4.44 from a horizontal line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

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	5.42	NEGATIVE	AKAN has a low relative strength, it was outperformed by 94.58% 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)	43.6	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)	22.97	NEUTRAL	The Stochastics value for AKAN is a neutral value.
Average True Range in percent/ATR (20)	10.42	HIGH VOLATILITY	The high ATR as a percentage value for AKAN suggests high volalility.
Average Directional Index/ADX (14)	18.58	NEGATIVE	The low ADX value for AKAN suggests a weak or negative trend.