BMNR Technical Analysis - BITMINE IMMERSION TECHNOLOGI

Technical Rating and Analysis

Overall BMNR gets a technical rating of 4 out of 10. BMNR performed below average in the overall market. Although the medium term picture in unclear, the short term picture is clearly negative.

100% of all other stocks performed better in the past year than BMNR.

BMNR is one of the lesser performing stocks in the Software industry. 90% of 285 stocks in the same industry do better.

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.

BMNR has an average volume of 53883400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

In the last month BMNR has a been trading in the 47.21 - 65.60 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

BITMINE IMMERSION TECHNOLOGI / BMNR Weekly stock chart

BITMINE IMMERSION TECHNOLOGI / BMNR Daily stock chart

Setup Rating and Analysis

BMNR 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. There is a support zone below the current price at 49.84, 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

49.34

63.06

We found 1 important support area.

A support zone ranging from 49.84 to 49.84. This zone is formed by a combination of multiple trend lines in multiple time frames.

We can see 3 important resistance areas.

A resistance zone ranging from 53.81 to 54.91. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @61.30 from a horizontal line in the weekly time frame.
Resistance @62.44 from a horizontal line in the daily time frame.

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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	UP	POSITIVE	The long term trend for BMNR is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for BMNR is neutral.
ChartMill Relative Strength	0	NEGATIVE	BMNR has a low relative strength, it was outperformed by 100% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of BMNR is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BMNR is above the rising SMA(50).
Relative Strength Index/RSI (14)	50.41	NEUTRAL	The RSI value for BMNR is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.87	NEGATIVE	The MACD value suggests BMNR has a negative trend, although the MACD value is rising.
Stochastics (14,3)	13.89	OVERSOLD	The low Stochastics value suggests BMNR may be oversold.
Average True Range in percent/ATR (20)	8.19	HIGH VOLATILITY	The high ATR as a percentage value for BMNR suggests high volalility.
Average Directional Index/ADX (14)	19.86	NEGATIVE	The low ADX value for BMNR suggests a weak or negative trend.