PROSHARES SHORT BITC ETF-USD (BITI) Stock Technical Analysis
NYSEARCA:BITI - NYSE Arca - US74347G1849 - ETF - Currency: USD
We assign a technical rating of 1 out of 10 to BITI. BITI 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.
94% of all other stocks performed better in the past year than BITI.
BITI is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
BITI has an average volume of 1636470 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month BITI has a been trading in the 17.27 - 18.78 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
BITI has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 18.70. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 18.12, a Stop Loss order could be placed below this zone.
More info and screens
17.44
20.67
We found 1 important support area.
- A support zone ranging from 17.62 to 18.12. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 18.70 to 19.08. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @20.47 from a horizontal 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 BITI is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for BITI is down. |
| ChartMill Relative Strength | 6.39 | NEGATIVE | BITI has a low relative strength, it was outperformed by 93.61% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BITI is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BITI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 45.4 | NEUTRAL | The RSI value for BITI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.1 | POSITIVE | The MACD value suggests BITI has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 50.35 | NEUTRAL | The Stochastics value for BITI is a neutral value. |
| Average True Range in percent/ATR (20) | 2.35 | MEDIUM VOLATILITY | The ATR as a percentage value for BITI suggests some volalility. |
| Average Directional Index/ADX (14) | 14.28 | NEGATIVE | The low ADX value for BITI suggests a weak or negative 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)
18.16
+0.18 (+1%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg1%
1 Week-2.89%
2 Weeks0.44%
1 Month1.57%
3 Month-11.46%
6 Month-21.99%
12 Month-54.2%
2 Year-83.35%
3 Year-90.53%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.41
ATR(20)%2.35%
ATR Inc-18.48%
Range Today0.24
ADR(20)0.34
ADR(20)%1.9%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS6.39
Mansfield-3.63
10 Day High18.78
10 Day Low17.72
20 Day High18.78
20 Day Low17.27
52 Week High44.84
52 Week Low17.27
CS1 End18.12
CR1 Start18.7
Volume & EV
DER(3)-2.61%
DER(5)1.13%
Volume1.82M
Volume Incr-4.66%
Vol(5)2.01M
Vol(50)1.64M