BITFARMS LTD/CANADA (BITF) Stock Technical Analysis
NASDAQ:BITF - Nasdaq - CA09173B1076 - Common Stock - Currency: USD
We assign a technical rating of 3 out of 10 to BITF. In the past year, BITF was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
When comparing the yearly performance of all stocks, BITF is a bad performer in the overall market: 88% of all stocks are doing better.
BITF is part of the Software industry. There are 283 other stocks in this industry, of which 75% are performing better than BITF.
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 0.93 - 1.19 range, which is quite wide. It is currently trading near the high of this range.
BITF has an average volume of 17468500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
Volume is considerably higher in the last couple of days.
BITF has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 1.15. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
0.95
1.66
We found 1 important support area.
- A support zone ranging from 0.96 to 0.97. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 1.15 to 1.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.54 from a trend line in the weekly time frame.
- Resistance @1.64 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 | UP | POSITIVE | The short term trend for BITF is up. |
| ChartMill Relative Strength | 12.75 | NEGATIVE | BITF has a low relative strength, it was outperformed by 87.25% off all stocks 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) | DOWN | MIXED | The current price of BITF is above a declining 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) | 55.2 | NEUTRAL | The RSI value for BITF is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests BITF has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 63.5 | NEUTRAL | The Stochastics value for BITF is a neutral value. |
| Average True Range in percent/ATR (20) | 6.69 | HIGH VOLATILITY | The high ATR as a percentage value for BITF suggests high volalility. |
| Average Directional Index/ADX (14) | 21.77 | 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)
1.09
+0.01 (+0.93%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.93%
1 Week1.87%
2 Weeks2.83%
1 Month6.86%
3 Month-17.42%
6 Month-48.34%
12 Month-46.04%
2 Year-9.17%
3 Year-45.77%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.08
ATR(20)%6.69%
ATR Inc13.85%
Range Today0.07
ADR(20)0.07
ADR(20)%6.6%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS12.75
Mansfield-4.17
10 Day High1.19
10 Day Low1.03
20 Day High1.19
20 Day Low0.93
52 Week High3.28
52 Week Low0.67
CS1 End0.97
CR1 Start1.15
Volume & EV
DER(3)-2.95%
DER(5)-0.77%
Volume49.16M
Volume Incr114.64%
Vol(5)28.85M
Vol(50)17.47M