BITFARMS LTD/CANADA (BITF.CA) Stock Technical Analysis
TSX:BITF - Toronto Stock Exchange - CA09173B1076 - Common Stock - Currency: CAD
Taking everything into account, BITF scores 3 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. BITF was also a bad performer in the overall market in the last year.
90% of all other stocks performed better in the past year than BITF.
BITF is one of the lesser performing stocks in the Software industry. 79% of 63 stocks in the same industry do better.
BITF is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BITF is lagging the market.
BITF has an average volume of 1862180 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
In the last month BITF has a been trading in the 1.29 - 1.65 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, BITF does present a nice setup opportunity. Prices have been consolidating lately. We notice that large players showed an interest for BITF 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
1.33
2.45
We found 1 important support area.
- Support @1.34 from a horizontal line in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 1.53 to 1.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 1.60 to 1.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.31 from a trend line in the weekly time frame.
- Resistance @2.43 from a trend 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 BITF.CA is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BITF.CA is up. |
| ChartMill Relative Strength | 10.33 | NEGATIVE | BITF.CA has a low relative strength, it was outperformed by 89.67% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITF.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of BITF.CA is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BITF.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.68 | NEUTRAL | The RSI value for BITF.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests BITF.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 67.51 | NEUTRAL | The Stochastics value for BITF.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 5.85 | HIGH VOLATILITY | The high ATR as a percentage value for BITF.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 21.85 | NEUTRAL | The ADX value for BITF.CA 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)
TSX:BITF (5/22/2025, 7:00:00 PM)
1.53
+0.01 (+0.66%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.66%
1 Week0%
2 Weeks8.51%
1 Month8.51%
3 Month-18.18%
6 Month-48.31%
12 Month-44.77%
2 Year-5.56%
3 Year-39.76%
5 Year218.75%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.09
ATR(20)%5.85%
ATR Inc13.51%
Range Today0.08
ADR(20)0.09
ADR(20)%5.65%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS10.33
Mansfield-4.12
10 Day High1.65
10 Day Low1.41
20 Day High1.65
20 Day Low1.29
52 Week High4.49
52 Week Low0.96
CS1 End1.34
CR1 Start1.53
Volume & EV
DER(3)1.39%
DER(5)3.51%
Volume1.92M
Volume Incr20.61%
Vol(5)2.04M
Vol(50)1.86M