GLOBAL X BLOCK & BIT STRAT (BITS) Stock Technical Analysis
NASDAQ:BITS - Nasdaq - US37960A7274 - ETF - Currency: USD
Taking everything into account, BITS scores 6 out of 10 in our technical rating. In the last year, BITS was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.
Warning: BITS has an average volume of 4272 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long and short term trends are both positive. This is looking good!
When comparing the yearly performance of all stocks, we notice that BITS is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this relatively good performance is mostly due to a recent big move.
BITS 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 BITS is lagging the market slightly.
In the last month BITS has a been trading in the 62.62 - 71.62 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
BITS has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. We notice that large players showed an interest for BITS in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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
50.28
72.20
When analyzing the support we can see 3 important areas.
- A support zone ranging from 63.95 to 63.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @52.42 from a trend line in the weekly time frame.
- Support @50.79 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 67.70 to 69.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 70.76 to 71.49. This zone is formed by a combination of multiple trend lines in the daily 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 | UP | POSITIVE | The long term trend for BITS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BITS is up. |
| ChartMill Relative Strength | 73.75 | POSITIVE | BITS has a high relative strength, it outperformed 73.75% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BITS is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BITS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of BITS is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 49.95 | NEUTRAL | The RSI value for BITS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.6 | NEGATIVE | The MACD value suggests BITS has a negative trend. |
| Stochastics (14,3) | 43.2 | NEUTRAL | The Stochastics value for BITS is a neutral value. |
| Average True Range in percent/ATR (20) | 3.56 | MEDIUM VOLATILITY | The ATR as a percentage value for BITS suggests some volalility. |
| Average Directional Index/ADX (14) | 15.74 | NEGATIVE | The low ADX value for BITS 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)
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 |
|---|---|---|---|
| 69.53 | 65.80 | 3.73 (5.36%) | 18.64% |
| An entry @69.53. This is a Buy Stop order right above the resistance zone. | An exit @65.80. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 3.73 points, which is 5.36%. | When investing 18.64% 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.
NASDAQ:BITS (6/20/2025, 8:18:01 PM)
66.26
-0.69 (-1.03%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-1.03%
1 Week-4.43%
2 Weeks0.78%
1 Month-2.01%
3 Month23.44%
6 Month-27.59%
12 Month-5.19%
2 Year66.9%
3 Year168.91%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.37
ATR(20)%3.56%
ATR Inc-13.88%
Range Today2.42
ADR(20)1.82
ADR(20)%2.75%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.75
Mansfield-0.72
10 Day High71.62
10 Day Low65.81
20 Day High71.62
20 Day Low62.62
52 Week High106.93
52 Week Low45.63
CS1 End63.99
CR1 Start67.7
Volume & EV
DER(3)5.4%
DER(5)4.12%
Volume1.80K
Volume Incr8.05%
Vol(5)4.90K
Vol(50)4.27K