BITF Technical Analysis - BITFARMS LTD/CANADA

Technical Rating and Analysis

Taking everything into account, BITF scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, BITF has proven to be a steady performer, scoring decent points in every aspect analyzed.

The long and short term trends are both positive. This is looking good!

BITF is part of the Software industry. There are 279 other stocks in this industry. BITF outperforms 94% of them.

BITF is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so BITF is lagging the market slightly.

In the last month BITF has a been trading in the 1.21 - 3.60 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

BITF has an average volume of 46287600 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 98% of all stocks. However, this overall good ranking is mostly due to the recent strong move.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BITFARMS LTD/CANADA / BITF Weekly stock chart

BITFARMS LTD/CANADA / BITF Daily stock chart

Setup Rating and Analysis

Although BITF has an excellent technical rating, it does not present a decent entry opportunity 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.87

3.16

We found 1 important resistance area.

A resistance zone ranging from 3.11 to 3.13. This zone is formed by a combination of multiple trend lines in multiple time frames.

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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	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	98.06	POSITIVE	BITF has a high relative strength, it outperformed 98.06% 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)	UP	POSITIVE	The current price of BITF is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of BITF is above the rising SMA(200).
Relative Strength Index/RSI (14)	88.46	OVERBOUGHT	The high RSI value suggests BITF may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.18	POSITIVE	The MACD value suggests BITF has a positive trend, although the MACD value is declining.
Stochastics (14,3)	86.39	OVERBOUGHT	The high Stochastics value suggests BITF may be overbought.
Average True Range in percent/ATR (20)	6.9	HIGH VOLATILITY	The high ATR as a percentage value for BITF suggests high volalility.
Average Directional Index/ADX (14)	48.39	POSITIVE	The high ADX value value for BITF suggests a strong trend.