BIT MINING LTD - SPON ADR (BTCM) Stock Technical Analysis
NYSE:BTCM - New York Stock Exchange, Inc. - US0554742090 - ADR - Currency: USD
Taking everything into account, BTCM scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
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 2.30 - 8.07 range, which is quite wide. It is currently trading near the lows of this range.
BTCM is one of the better performing stocks in the Software industry, it outperforms 78% of 282 stocks in the same industry.
BTCM has an average volume of 4131600 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
Looking at the yearly performance, BTCM did better than 87% 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.
Although BTCM has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
2.15
4.01
When analyzing the support we can see 3 important areas.
- 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.
- Support @2.31 from a trend line in the daily time frame.
- Support @2.17 from a trend line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 2.69 to 2.69. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @3.97 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 | DOWN | NEGATIVE | The short term trend for BTCM is down. |
| ChartMill Relative Strength | 87.48 | POSITIVE | BTCM has a high relative strength, it outperformed 87.48% 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 | POSITIVE | The current price of BTCM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BTCM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 46.19 | NEUTRAL | The RSI value for BTCM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.16 | NEGATIVE | The MACD value suggests BTCM has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 12.7 | OVERSOLD | The low Stochastics value suggests BTCM may be oversold. |
| Average True Range in percent/ATR (20) | 28.81 | HIGH VOLATILITY | The high ATR as a percentage value for BTCM suggests high volalility. |
| Average Directional Index/ADX (14) | 29.26 | 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)
2.68
+0.02 (+0.75%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg0.75%
1 Week3.08%
2 Weeks-24.51%
1 Month8.5%
3 Month49.72%
6 Month12.61%
12 Month15.52%
2 Year-7.59%
3 Year-33.02%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.35
ATR(20)%28.81%
ATR Inc-31.69%
Range Today0.25
ADR(20)0.6
ADR(20)%22.37%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS87.48
Mansfield0.43
10 Day High3.62
10 Day Low2.3
20 Day High8.07
20 Day Low2.3
52 Week High8.07
52 Week Low1.22
CS1 End2.43
CR1 Start2.69
Volume & EV
DER(3)4.39%
DER(5)1.71%
Volume270.90K
Volume Incr-96.78%
Vol(5)327.52K
Vol(50)4.13M