BITWISE CRYPTO IND INNOV ETF (BITQ) Stock Technical Analysis
NYSEARCA:BITQ - NYSE Arca - US3015056241 - ETF - Currency: USD
We assign a technical rating of 8 out of 10 to BITQ. Both in the recent history as in the last year, BITQ has proven to be a steady performer, scoring decent points in every aspect analyzed.
Both the short term and long term trends are positive. This is a very positive sign.
In the last month BITQ has a been trading in the 15.84 - 18.75 range, which is quite wide. It is currently trading near the high of this range.
When comparing the yearly performance of all stocks, we notice that BITQ is one of the better performing stocks in the market, outperforming 90% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
BITQ is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BITQ is lagging the market slightly.
BITQ has an excellent technical rating and also presents 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 18.08. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for BITQ in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
11.59
18.80
When analyzing the support we can see 3 important areas.
- A support zone ranging from 16.08 to 16.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @12.36 from a trend line in the weekly time frame.
- Support @11.71 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 18.08 to 18.61. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 BITQ is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BITQ is up. |
| ChartMill Relative Strength | 90.98 | POSITIVE | BITQ has a high relative strength, it outperformed 90.98% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BITQ is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BITQ is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BITQ is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.73 | NEUTRAL | The RSI value for BITQ is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.1 | NEGATIVE | The MACD value suggests BITQ has a negative trend. |
| Stochastics (14,3) | 70.15 | NEUTRAL | The Stochastics value for BITQ is a neutral value. |
| Average True Range in percent/ATR (20) | 4.23 | MEDIUM VOLATILITY | The ATR as a percentage value for BITQ suggests some volalility. |
| Average Directional Index/ADX (14) | 23.77 | NEUTRAL | The ADX value for BITQ 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 18.62 | 17.25 | 1.37 (7.36%) | 13.59% |
| An entry @18.62. This is a Buy Stop order right above the resistance zone. | An exit @17.25. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.37 points, which is 7.36%. | When investing 13.59% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
18
-0.09 (-0.5%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.5%
1 Week0.22%
2 Weeks4.59%
1 Month-0.77%
3 Month33.63%
6 Month-4.56%
12 Month31.2%
2 Year123.6%
3 Year224.32%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.73
ATR(20)%4.23%
ATR Inc-8.29%
Range Today0.54
ADR(20)0.63
ADR(20)%3.52%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS90.98
Mansfield1.14
10 Day High18.75
10 Day Low17.26
20 Day High18.75
20 Day Low15.84
52 Week High23.09
52 Week Low10.03
CS1 End16.26
CR1 Start18.08
Volume & EV
DER(3)-1.05%
DER(5)3.29%
Volume86.60K
Volume Incr-39.65%
Vol(5)76.58K
Vol(50)117.31K