CHARDAN NEXTECH ACQUISI-CW27 (CNTQW) Stock Technical Analysis
NASDAQ:CNTQW - Nasdaq - - Currency: USD
We assign a technical rating of 8 out of 10 to CNTQW. CNTQW has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
CNTQW 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. There is a support zone below the current price at 0.27, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CNTQW in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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0.27
When analyzing the support we notice one important area.
- A support zone ranging from 0.27 to 0.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- Resistance @0.48 from a trend 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 | NEUTRAL | NEUTRAL | The long term trend for CNTQW is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNTQW is up. |
| ChartMill Relative Strength | 95.5 | POSITIVE | CNTQW has a high relative strength, it outperformed 95.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CNTQW is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNTQW is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of CNTQW is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 56.78 | NEUTRAL | The RSI value for CNTQW is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests CNTQW has a positive trend. |
| Stochastics (14,3) | 46.25 | NEUTRAL | The Stochastics value for CNTQW is a neutral value. |
| Average True Range in percent/ATR (20) | 14.63 | HIGH VOLATILITY | The high ATR as a percentage value for CNTQW suggests high volalility. |
| Average Directional Index/ADX (14) | 23.01 | NEUTRAL | The ADX value for CNTQW suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 0.49 | 0.26 | 0.24 (47.96%) | 2.09% |
| An entry @0.49. This is a Buy Stop order right above the resistance zone. | An exit @0.26. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.23 points, which is 47.96%. | When investing 2.09% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
NASDAQ:CNTQW (10/7/2022, 8:00:01 PM)
0.3954
+0.08 (+23.52%)