BITE ACQUISITION CORP (BITE) Stock Technical Analysis
NYSEARCA:BITE - NYSE Arca - US09175K1051 - Common Stock - Currency: USD
Taking everything into account, BITE scores 7 out of 10 in our technical rating. BITE has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
Warning: BITE has an average volume of 15516 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
Looking at the yearly performance, BITE did better than 86% of all other stocks.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
BITE is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BITE is lagging the market slightly.
In the last month BITE has a been trading in the 7.70 - 13.50 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although BITE has an excellent technical rating, it 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.
More info and screens
8.12
12.63
4 important support areas can be observed.
- A support zone ranging from 10.75 to 10.75. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 9.40 to 9.57. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @8.38 from a horizontal line in the daily time frame.
- Support @8.20 from a horizontal line in the daily 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 | NEUTRAL | NEUTRAL | The long term trend for BITE is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BITE is neutral. |
| ChartMill Relative Strength | 86.1 | POSITIVE | BITE has a high relative strength, it outperformed 86.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BITE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BITE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.91 | NEUTRAL | The RSI value for BITE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.16 | POSITIVE | The MACD value suggests BITE has a positive trend. |
| Stochastics (14,3) | 44.78 | NEUTRAL | The Stochastics value for BITE is a neutral value. |
| Average True Range in percent/ATR (20) | 12.77 | HIGH VOLATILITY | The high ATR as a percentage value for BITE suggests high volalility. |
| Average Directional Index/ADX (14) | 21.49 | NEUTRAL | The ADX value for BITE suggests a possible start of a new 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)
12.5
+3.8 (+43.68%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg43.68%
1 Week34.41%
2 Weeks34.41%
1 Month35.87%
3 Month16.55%
6 Month18.04%
12 Month21.24%
2 Year27.42%
3 Year29.27%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.37
ATR(20)%12.77%
ATR Inc64.69%
Range Today3.02
ADR(20)1.47
ADR(20)%11.77%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS86.1
Mansfield0.51
10 Day High12.5
10 Day Low8.22
20 Day High13.5
20 Day Low7.7
52 Week High13.5
52 Week Low6.5
CS1 End10.75
CR1 StartN/A
Volume & EV
DER(3)-0.44%
DER(5)-4.6%
Volume19.70K
Volume Incr-54.58%
Vol(5)5.68K
Vol(50)15.52K