BITFARMS LTD/CANADA (BITF) Stock Technical Analysis
NASDAQ:BITF - Nasdaq - CA09173B1076 - Common Stock - Currency: USD
We assign a technical rating of 1 out of 10 to BITF. BITF 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 negative, as is the long term trend. There should be more interesting stocks out there.
96% of all other stocks performed better in the past year than BITF.
BITF is part of the Software industry. There are 284 other stocks in this industry, of which 86% are performing better than BITF.
BITF is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so BITF is lagging the market.
In the last month BITF has a been trading in the 0.79 - 1.16 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.
BITF has an average volume of 15372600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The technical rating of BITF 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.
More info and screens
0.79
1.42
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 0.90 to 0.90. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 0.99 to 0.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.41 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 is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BITF is down. |
| ChartMill Relative Strength | 4.53 | NEGATIVE | BITF has a low relative strength, it was outperformed by 95.47% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BITF is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of BITF is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BITF is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 34.38 | NEUTRAL | The RSI value for BITF is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests BITF has a negative trend. |
| Stochastics (14,3) | 6.9 | OVERSOLD | The low Stochastics value suggests BITF may be oversold. |
| Average True Range in percent/ATR (20) | 7.17 | HIGH VOLATILITY | The high ATR as a percentage value for BITF suggests high volalility. |
| Average Directional Index/ADX (14) | 29.56 | POSITIVE | The high ADX value value for BITF suggests a strong 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)
0.8
-0.05 (-5.88%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-5.88%
1 Week-16.65%
2 Weeks-13.05%
1 Month-30.43%
3 Month-20.79%
6 Month-52.38%
12 Month-72.79%
2 Year-45.58%
3 Year-28.57%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.05
ATR(20)%7.17%
ATR Inc14.05%
Range Today0.05
ADR(20)0.05
ADR(20)%6.79%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS4.53
Mansfield-5.45
10 Day High0.96
10 Day Low0.79
20 Day High1.16
20 Day Low0.79
52 Week High3.15
52 Week Low0.67
CS1 EndN/A
CR1 Start0.9
Volume & EV
DER(3)0.93%
DER(5)1.37%
Volume11.02M
Volume Incr-45.95%
Vol(5)11.73M
Vol(50)15.37M