BITFARMS LTD/CANADA (BITF) Stock Technical Analysis
NASDAQ:BITF - CA09173B1076 - Common Stock
1.34 USD
+0.04 (+3.08%)
1.33 USD
-0.01 (-0.75%)
Overall BITF gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BITF is only an average performer.
The long and short term trends are both positive. This is looking good!
BITF has an average volume of 24440100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When compared to the yearly performance of all other stocks, BITF outperforms 47% of them, which is more or less in line with the market.
BITF is part of the Software industry. There are 282 other stocks in this industry, BITF did better than 56% of them.
BITF is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BITF is lagging the market.
In the last month BITF has a been trading in the 1.14 - 1.43 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Besides having an excellent technical rating, BITF also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 1.28, a Stop Loss order could be placed below this zone. 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
0.78
1.36
We found 3 important support areas.
- A support zone ranging from 1.26 to 1.28. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @1.22 from a horizontal line in the daily time frame.
- Support @0.79 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 1.34 to 1.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for BITF is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BITF is up. |
| ChartMill Relative Strength | 47.22 | NEUTRAL | BITF is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITF is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BITF is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of BITF is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60.09 | 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, although the MACD value is rising. |
| Stochastics (14,3) | 47.66 | NEUTRAL | The Stochastics value for BITF is a neutral value. |
| Average True Range in percent/ATR (20) | 7.03 | HIGH VOLATILITY | The high ATR as a percentage value for BITF suggests high volalility. |
| Average Directional Index/ADX (14) | 21.69 | NEUTRAL | The ADX value for BITF 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 1.36 | 1.25 | 0.11 (8.09%) | 12.36% |
| An entry @1.36. This is a Buy Stop order right above the resistance zone. | An exit @1.25. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.11 points, which is 8.09%. | For a 1.00% total portfolio risk, you can invest 12.36% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of BITF. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
1.34
+0.04 (+3.08%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg3.08%
1 Week6.35%
2 Weeks5.51%
1 Month11.67%
3 Month45.51%
6 Month15.52%
12 Month-37.96%
2 Year-1.47%
3 Year3.08%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.1
ATR(20)%7.03%
ATR Inc-3.35%
Range Today0.09
ADR(20)0.09
ADR(20)%6.88%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS47.22
Mansfield-1.44
10 Day High1.43
10 Day Low1.18
20 Day High1.43
20 Day Low1.14
52 Week High2.76
52 Week Low0.67
CS1 End1.28
CR1 Start1.34
Volume & EV
DER(3)6.58%
DER(5)3.62%
Volume28.49M
Volume Incr-28.42%
Vol(5)20.18M
Vol(50)24.44M