BIT MINING LTD - SPON ADR (BTCM) Stock Technical Analysis
NYSE:BTCM - US0554742090 - ADR
2.81 USD
-0.07 (-2.43%)
2.7906 USD
-0.02 (-0.69%)
We assign a technical rating of 8 out of 10 to BTCM. Both in the recent history as in the last year, BTCM has proven to be a steady performer, scoring decent points in every aspect analyzed.
BTCM is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month BTCM has a been trading in the 2.47 - 3.82 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
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.
BTCM is one of the better performing stocks in the Software industry, it outperforms 80% of 280 stocks in the same industry.
BTCM has an average volume of 4298840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Looking at the yearly performance, BTCM did better than 88% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
Considerably lower volume is observed in the last couple of days.
Besides having an excellent technical rating, BTCM also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price.
More info and screens
2.41
3.93
2 important support areas can be observed.
- Support @2.56 from a trend line in the daily time frame.
- A support zone ranging from 2.43 to 2.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
4 important resistance areas can be observed.
- Resistance @2.83 from a trend line in the daily time frame.
- A resistance zone ranging from 2.94 to 2.97. 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 3.15 to 3.15. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @3.89 from a trend line in the weekly 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 BTCM is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for BTCM is neutral. |
| ChartMill Relative Strength | 88.67 | POSITIVE | BTCM has a high relative strength, it outperformed 88.67% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of BTCM is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of BTCM is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of BTCM is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 46.79 | NEUTRAL | The RSI value for BTCM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests BTCM has a negative trend. |
| Stochastics (14,3) | 18.31 | OVERSOLD | The low Stochastics value suggests BTCM may be oversold. |
| Average True Range in percent/ATR (20) | 10.96 | HIGH VOLATILITY | The high ATR as a percentage value for BTCM suggests high volalility. |
| Average Directional Index/ADX (14) | 25.26 | POSITIVE | The high ADX value value for BTCM suggests a strong 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 |
|---|---|---|---|
| 2.84 | 2.74 | 0.10 (3.52%) | 25.00% |
| An entry @2.84. This is a Buy Stop order right above the resistance zone. | An exit @2.74. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.10 points, which is 3.52%. | For a 0.88% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of BTCM. Please evaluate whether better entry and exit points can be found.
- 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.
2.81
-0.07 (-2.43%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg-2.43%
1 Week-10.51%
2 Weeks-9.65%
1 Month15.16%
3 Month52.72%
6 Month43.37%
12 Month22.17%
2 Year-3.1%
3 Year-29.77%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.35
ATR(20)%10.96%
ATR Inc-18.91%
Range Today0.21
ADR(20)0.27
ADR(20)%9.54%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS88.67
Mansfield0.58
10 Day High3.26
10 Day Low2.75
20 Day High3.82
20 Day Low2.47
52 Week High8.07
52 Week Low1.22
CS1 End2.56
CR1 Start2.83
Volume & EV
DER(3)0.08%
DER(5)-6.88%
Volume273.40K
Volume Incr-37.53%
Vol(5)320.60K
Vol(50)4.30M