2X BITCOIN STRATEGY ETF (BITX) Stock Technical Analysis
USA - NYSEARCA:BITX - US92864M3016 - ETF
57.03 USD
-2.4 (-4.04%)
57.35 USD
+0.32 (+0.56%)
Taking everything into account, BITX scores 7 out of 10 in our technical rating. In the last year, BITX was one of the better performers, but we do observe some doubts in the very recent evolution.
The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
Looking at the yearly performance, BITX did better than 91% of all other stocks.
BITX has an average volume of 7087850 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
BITX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BITX is lagging the market.
In the last month BITX has a been trading in the 50.69 - 61.22 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
BITX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 53.89, a Stop Loss order could be placed below this zone.
More info and screens
21.14
67.02
When analyzing the support we can see 5 important areas.
- A support zone ranging from 53.22 to 53.89. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 50.57 to 52.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @49.72 from a horizontal line in the daily time frame.
- Support @46.84 from a trend line in the weekly time frame.
- Support @21.35 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 59.44 to 59.60. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 65.22 to 65.23. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Resistance @66.36 from a horizontal line 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 BITX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BITX is neutral. |
| ChartMill Relative Strength | 91.79 | POSITIVE | BITX has a high relative strength, it outperformed 91.79% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BITX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BITX is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of BITX is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.65 | NEUTRAL | The RSI value for BITX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.57 | POSITIVE | The MACD value suggests BITX has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 80.4 | OVERBOUGHT | The high Stochastics value suggests BITX may be overbought. |
| Average True Range in percent/ATR (20) | 4.79 | MEDIUM VOLATILITY | The ATR as a percentage value for BITX suggests some volalility. |
| Average Directional Index/ADX (14) | 10.06 | NEGATIVE | The low ADX value for BITX 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)
57.03
-2.4 (-4.04%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-4.04%
1 Week-3.42%
2 Weeks5.85%
1 Month1.98%
3 Month12.77%
6 Month51.47%
12 Month98.23%
2 Year436%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.42
ATR(20)%4.79%
ATR Inc-1.26%
Range Today1.46
ADR(20)2
ADR(20)%3.5%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.79
Mansfield0.21
10 Day High59.94
10 Day Low52.99
20 Day High61.22
20 Day Low50.69
52 Week High72.8
52 Week Low24.23
CS1 End53.89
CR1 Start59.44
Volume & EV
DER(3)-3.02%
DER(5)-1.8%
Volume5.48M
Volume Incr-5.66%
Vol(5)5.77M
Vol(50)7.09M