Cannabix Technologies Inc (BLO.CA) Stock Technical Analysis
Canada • Canadian Securities Exchange • CNSX:BLO
Overall BLO gets a technical rating of 8 out of 10. In the last year, BLO 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 gets the benefit of the doubt for now.
- When comparing the yearly performance of all stocks, we notice that BLO is one of the better performing stocks in the market, outperforming 88% of all stocks. We also observe that the gains produced by BLO over the past year are nicely spread over this period.
- BLO is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BLO is lagging the market.
- In the last month BLO has a been trading in the 1.24 - 1.66 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
BLO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 1.56. Right above this resistance zone may be a good entry point.
More info and screens
1.30
We found 2 important support areas.
- Support @1.37 from a trend line in the daily time frame.
- A support zone ranging from 1.31 to 1.33. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 1.56 to 1.58. This zone is formed by a combination of multiple trend lines 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 BLO.CA is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BLO.CA is neutral. |
| ChartMill Relative Strength | 88.33 | POSITIVE | BLO.CA has a high relative strength, it outperformed 88.33% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BLO.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BLO.CA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BLO.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.96 | NEUTRAL | The RSI value for BLO.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests BLO.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 75.99 | NEUTRAL | The Stochastics value for BLO.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 6.47 | HIGH VOLATILITY | The high ATR as a percentage value for BLO.CA suggests high volalility. |
CNSX:BLO (4/8/2021, 8:02:51 PM)
1.5
-0.07 (-4.46%)
Cannabix Technologies Inc / BLO.CA FAQ
What is the ChartMill technical rating of Cannabix Technologies Inc (BLO.CA) stock?
ChartMill assigns a technical rating of 7 / 10 to BLO.CA.
What is the trend direction for BLO stock?
The current trend direction for Cannabix Technologies Inc (BLO.CA) is Bullish.
What is the RSI signal for Cannabix Technologies Inc (BLO.CA) stock?
Cannabix Technologies Inc (BLO.CA) has an RSI value of 48.9579. This indicates that the stock is currently neutral.
Can you provide the short term momentum for Cannabix Technologies Inc?
The short term momentum for Cannabix Technologies Inc (BLO.CA) is neutral.