BITK Technical Analysis - BLOCKCHAINK2 CORP

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to BITK. BITK's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.

97% of all other stocks performed better in the past year than BITK.

BITK is one of the lesser performing stocks in the Software industry. 84% of 65 stocks in the same industry do better.

BITK 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.

In the last month BITK has a been trading in the 0.07 - 0.10 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BLOCKCHAINK2 CORP / BITK Weekly stock chart

BLOCKCHAINK2 CORP / BITK Daily stock chart

Setup Rating and Analysis

BITK 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 0.09. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.07, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

0.07

0.11

We found 1 important support area.

A support zone ranging from 0.07 to 0.07. This zone is formed by a combination of multiple trend lines in multiple time frames.

3 important resistance areas can be observed.

A resistance zone ranging from 0.09 to 0.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @0.10 from a trend line in the daily time frame.
Resistance @0.11 from a horizontal line in the daily time frame.

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What is Support and Resistance

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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	DOWN	NEGATIVE	The long term trend for BITK.CA is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for BITK.CA is neutral.
ChartMill Relative Strength	3.83	NEGATIVE	BITK.CA has a low relative strength, it was outperformed by 96.17% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of BITK.CA is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BITK.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of BITK.CA is below a declining SMA(200).
Relative Strength Index/RSI (14)	49.79	NEUTRAL	The RSI value for BITK.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	POSITIVE	The MACD value suggests BITK.CA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	58.33	NEUTRAL	The Stochastics value for BITK.CA is a neutral value.
Average True Range in percent/ATR (20)	7.81	HIGH VOLATILITY	The high ATR as a percentage value for BITK.CA suggests high volalility.
Average Directional Index/ADX (14)	28.76	POSITIVE	The high ADX value value for BITK.CA suggests a strong trend.