BITFARMS LTD/CANADA (BITF) Technical Analysis
NASDAQ:BITF • CA09173B1076
Current stock price
BITF Technical Rating and Analysis
Overall BITF gets a technical rating of 2 out of 10. Although BITF is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
- 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.
- In the last month BITF has a been trading in the 1.79 - 2.41 range, which is quite wide. It is currently trading near the lows of this range.
- BITF is part of the Software industry. There are 275 other stocks in this industry. BITF outperforms 94% of them.
- BITF has an average volume of 34364200 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that BITF is one of the better performing stocks in the market, outperforming 92% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
BITF Weekly and Daily overview Charts
BITF Setup Rating and Analysis
BITF has a bad technical rating, but it does show 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 1.97, a Stop Loss order could be placed below this zone.
More info and screens
BITF Support and Resistance Analysis
1.84
We found 2 important support areas.
- A support zone ranging from 1.94 to 1.97. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Support @1.86 from a trend line in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 1.99 to 2.01. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 2.20 to 2.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.94 from a horizontal line in the weekly time frame.
BITF 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 | 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 | 92.59 | POSITIVE | BITF has a high relative strength, it outperformed 92.59% 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) | DOWN | NEGATIVE | The current price of BITF is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of BITF is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 42.68 | NEUTRAL | The RSI value for BITF is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests BITF has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 28.46 | NEUTRAL | The Stochastics value for BITF is a neutral value. |
| Average True Range in percent/ATR (20) | 8.96 | HIGH VOLATILITY | The high ATR as a percentage value for BITF suggests high volalility. |
| Average Directional Index/ADX (14) | 17.73 | NEGATIVE | The low ADX value for BITF suggests a weak or negative trend. |
BITF Chart- and CandleStick Pattern Analysis
BITF Technicals: Chart, Performance Metrics, Trend & Indicators
1.98
0 (0%)
BITFARMS LTD/CANADA / BITF TA FAQ
Can you provide the ChartMill technical rating for BITFARMS LTD/CANADA?
ChartMill assigns a technical rating of 2 / 10 to BITF.
What is the trend direction for BITF stock?
The current trend direction for BITFARMS LTD/CANADA (BITF) is Bearish.
What is the RSI signal for BITF stock?
BITFARMS LTD/CANADA (BITF) has an RSI value of 42.6837. This indicates that the stock is currently neutral.
Can you provide the short term momentum for BITFARMS LTD/CANADA?
The short term momentum for BITFARMS LTD/CANADA (BITF) is negative.
What is the buy/sell signal for BITF stock?
The buy/sell signal for BITFARMS LTD/CANADA (BITF) is sell as both the short term and long term trends are negative.