CANB Technical Analysis - CANADABIS CAPITAL INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to CANB. CANB's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.

When comparing the yearly performance of all stocks, CANB is a bad performer in the overall market: 89% of all stocks are doing better.

CANB is part of the Pharmaceuticals industry. There are 34 other stocks in this industry, of which 78% are performing better than CANB.

CANB 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 CANB has a been trading in the 0.04 - 0.05 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

CANADABIS CAPITAL INC / CANB Weekly stock chart

CANADABIS CAPITAL INC / CANB Daily stock chart

Setup Rating and Analysis

Although the technical rating is bad, CANB does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 0.04, 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

0.04

0.06

When analyzing the support we notice one important area.

A support zone ranging from 0.04 to 0.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

We found 1 important resistance area.

Resistance @0.06 from a horizontal line in the daily time frame.

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What is Support and Resistance

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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	DOWN	NEGATIVE	The long term trend for CANB.CA is down.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for CANB.CA is neutral.
ChartMill Relative Strength	11.85	NEGATIVE	CANB.CA has a low relative strength, it was outperformed by 88.15% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of CANB.CA is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	MIXED	The current price of CANB.CA is above a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of CANB.CA is below a declining SMA(200).
Relative Strength Index/RSI (14)	51.42	NEUTRAL	The RSI value for CANB.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0	POSITIVE	The MACD value suggests CANB.CA has a positive trend.
Stochastics (14,3)	33.33	NEUTRAL	The Stochastics value for CANB.CA is a neutral value.
Average True Range in percent/ATR (20)	5	MEDIUM VOLATILITY	The ATR as a percentage value for CANB.CA suggests some volalility.
Average Directional Index/ADX (14)	14.12	NEGATIVE	The low ADX value for CANB.CA suggests a weak or negative trend.