AKANDA CORP (AKAN) Stock Technical Analysis
NASDAQ:AKAN - Nasdaq - CA00971M4039 - Common Stock - Currency: USD
Taking everything into account, AKAN scores 1 out of 10 in our technical rating. 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 neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
When comparing the yearly performance of all stocks, AKAN is a bad performer in the overall market: 92% of all stocks are doing better.
AKAN is part of the Pharmaceuticals industry. There are 193 other stocks in this industry, of which 71% are performing better than AKAN.
AKAN is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month AKAN has a been trading in the 1.20 - 1.49 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
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.
More info and screens
1.14
1.77
When analyzing the support we can see 4 important areas.
- A support zone ranging from 1.32 to 1.33. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.24 from a trend line in the daily time frame.
- Support @1.20 from a horizontal line in the daily time frame.
- Support @1.15 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 1.33 to 1.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 1.40 to 1.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 1.45 to 1.47. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.75 from a horizontal line in the weekly 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 | NEUTRAL | NEUTRAL | The short term trend for AKAN is neutral. |
| ChartMill Relative Strength | 8.22 | NEGATIVE | AKAN has a low relative strength, it was outperformed by 91.78% 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 | MIXED | The current price of AKAN is above 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) | 49.67 | NEUTRAL | The RSI value for AKAN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests AKAN has a negative trend. |
| Stochastics (14,3) | 57.95 | NEUTRAL | The Stochastics value for AKAN is a neutral value. |
| Average True Range in percent/ATR (20) | 7.55 | HIGH VOLATILITY | The high ATR as a percentage value for AKAN suggests high volalility. |
| Average Directional Index/ADX (14) | 16.62 | NEGATIVE | The low ADX value for AKAN suggests a weak or negative 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)
1.33
-0.04 (-2.92%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg-2.92%
1 Week3.91%
2 Weeks-8.28%
1 Month-1.04%
3 Month20.91%
6 Month-15.82%
12 Month-66.75%
2 Year-97.32%
3 Year-99.83%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.11
ATR(20)%7.55%
ATR Inc-50.66%
Range Today0.04
ADR(20)0.1
ADR(20)%7.3%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS8.22
Mansfield-2.84
10 Day High1.49
10 Day Low1.25
20 Day High1.49
20 Day Low1.2
52 Week High4.16
52 Week Low0.93
CS1 End1.33
CR1 Start1.33
Volume & EV
DER(3)8.58%
DER(5)20.19%
Volume25.90K
Volume Incr-9.05%
Vol(5)57.46K
Vol(50)41.01K