CONNECT BIOPHARMA HOLDINGS L (CNTB) Stock Technical Analysis
NASDAQ:CNTB - US2075231017 - ADR
1.99 USD
-0.12 (-5.69%)
1.9001 USD
-0.09 (-4.52%)
We assign a technical rating of 7 out of 10 to CNTB. 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.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
CNTB is part of the Biotechnology industry. There are 542 other stocks in this industry. CNTB outperforms 93% of them.
When comparing the yearly performance of all stocks, we notice that CNTB is one of the better performing stocks in the market, outperforming 96% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
CNTB is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CNTB is lagging the market.
In the last month CNTB has a been trading in the 1.60 - 2.46 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
CNTB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. We notice that large players showed an interest for CNTB in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
1.07
2.40
We found 3 important support areas.
- A support zone ranging from 1.83 to 1.85. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1.71 to 1.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.08 from a trend line in the daily time frame.
We can see 2 important resistance areas.
- Resistance @2.12 from a horizontal line in the daily time frame.
- Resistance @2.38 from a horizontal line in the daily 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 CNTB is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CNTB is neutral. |
| ChartMill Relative Strength | 96.77 | POSITIVE | CNTB has a high relative strength, it outperformed 96.77% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CNTB is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNTB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CNTB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 53.31 | NEUTRAL | The RSI value for CNTB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests CNTB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 54.7 | NEUTRAL | The Stochastics value for CNTB is a neutral value. |
| Average True Range in percent/ATR (20) | 11.99 | HIGH VOLATILITY | The high ATR as a percentage value for CNTB suggests high volalility. |
| Average Directional Index/ADX (14) | 18.36 | NEGATIVE | The low ADX value for CNTB suggests a weak or negative 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 |
|---|---|---|---|
| 2.13 | 1.82 | 0.31 (14.55%) | 6.87% |
| An entry @2.13. This is a Buy Stop order right above the resistance zone. | An exit @1.82. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.31 points, which is 14.55%. | For a 1.00% total portfolio risk, you can invest 6.87% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of CNTB. 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.
1.99
-0.12 (-5.69%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-5.69%
1 Week15.03%
2 Weeks9.94%
1 Month-9.55%
3 Month151.42%
6 Month134.12%
12 Month59.2%
2 Year142.98%
3 Year54.26%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.22
ATR(20)%11.99%
ATR Inc26.84%
Range Today0.38
ADR(20)0.23
ADR(20)%11.76%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.77
Mansfield6.03
10 Day High2.2
10 Day Low1.6
20 Day High2.46
20 Day Low1.6
52 Week High2.86
52 Week Low0.51
CS1 End1.85
CR1 Start2.12
Volume & EV
DER(3)5.88%
DER(5)1.77%
Volume555.50K
Volume Incr69.96%
Vol(5)242.58K
Vol(50)194.52K