Technical Analysis of AKANDA CORP(NASDAQ:AKAN) stock

Technical Rating

Taking everything into account, AKAN scores 0 out of 10 in our technical rating. 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.

AKAN has an average volume of 1063300 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.

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: 99% of all stocks are doing better.

AKAN is part of the Pharmaceuticals industry. There are 247 other stocks in this industry, of which 91% are performing better than AKAN.

AKAN is currently making a new 52 week low. This is a very bad signal. The S&P500 Index is trading in the upper part of its 52 week range, so AKAN is lagging the market.

In the last month AKAN has a been trading in the 0.70 - 2.70 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.

Statistics

1 Month

3 Months

6 Months

12 Months

-30.06%

-64.40%

-69.00%

-92.33%

SMA(20)

SMA(50)

SMA(100)

SMA(200)

52 Wk Range

ST Trend

LT Trend

1.25

0.7012 - 15.5

Support/Resistance Analysis

0.71

0.87

We found 1 important resistance area.

Resistance @0.86 from a trend line in the daily time frame.

Setup Analysis

Setup Rating

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.

AKANDA CORP

NASDAQ:AKAN (5/26/2023, 7:09:30 PM)

After market: 0.709 0 (-0.62%)

0.7134

-0.11 (-13.05%)

Chartmill TA Rating

Chartmill Setup Rating

Sector

GICS SectorHealth Care

GICS IndustryPharmaceuticals

Performance

% Chg-13.05%

1 Week-27.63%

2 Weeks-21.6%

1 Month-30.06%

3 Month-64.4%

6 Month-69%

12 Month-92.33%

Volatility

ATR(14)0.14

ATR(20)%31.59%

ATR Inc-31.29%

Range Today0.1

Trend & SMA

ST Trend

LT Trend

SMA(5)

SMA(10)

SMA(20)

SMA(50)

SMA(100)

SMA(200)

Relative Strength & Ranges

CRS1.25

Mansfield-8.34

10 Day High1.22

10 Day Low0.7

20 Day High2.7

20 Day Low0.7

52 Week High15.5

52 Week Low0.7

CS1 EndN/A

CR1 Start0.86

Volume & EV

DER(3)-10.14%

DER(5)-17.67%

Volume457.60K

Volume Incr-89.16%

Vol(5)247.82K

Vol(50)1.06M

Technical Stock Screener Links

AKANDA CORP (AKAN)

Technical Rating

Statistics

Support/Resistance Analysis

Setup Analysis

Setup Rating

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