ARBK Technical Analysis - ARGO BLOCKCHAIN PLC

Technical Rating and Analysis

Taking everything into account, ARBK scores 6 out of 10 in our technical rating. ARBK has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.

When comparing the yearly performance of all stocks, ARBK is a bad performer in the overall market: 63% of all stocks are doing better.

ARBK 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.

The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.

In the last month ARBK has a been trading in the 0.23 - 0.44 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

ARBK has an average volume of 2296410 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

ARBK is part of the Software industry. There are 281 other stocks in this industry, ARBK did better than 52% of them.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ARGO BLOCKCHAIN PLC / ARBK Weekly stock chart

ARGO BLOCKCHAIN PLC / ARBK Daily stock chart

Setup Rating and Analysis

ARBK has an average technical rating and it also does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.26

0.49

We found 1 important support area.

Support @0.26 from a trend line in the daily time frame.

2 important resistance areas can be observed.

A resistance zone ranging from 0.43 to 0.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @0.49 from a trend 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	NEUTRAL	NEUTRAL	The long term trend for ARBK is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ARBK is up.
ChartMill Relative Strength	37.14	NEUTRAL	ARBK is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ARBK is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ARBK is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of ARBK is above a declining SMA(200).
Relative Strength Index/RSI (14)	72.41	OVERBOUGHT	The high RSI value suggests ARBK may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests ARBK has a positive trend.
Stochastics (14,3)	79.83	NEUTRAL	The Stochastics value for ARBK is a neutral value.
Average True Range in percent/ATR (20)	7.59	HIGH VOLATILITY	The high ATR as a percentage value for ARBK suggests high volalility.
Average Directional Index/ADX (14)	22.63	NEUTRAL	The ADX value for ARBK suggests a possible start of a new trend.