Correvio Pharma Corp (CORV.CA) Stock Technical Analysis
Canada • Toronto Stock Exchange • TSX:CORV
We assign a technical rating of 4 out of 10 to CORV. CORV'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 short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- When comparing the yearly performance of all stocks, CORV is a bad performer in the overall market: 93% of all stocks are doing better.
- CORV is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
- In the last month CORV has a been trading in the 0.53 - 0.60 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is only medium, CORV does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 0.55, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CORV in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
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When analyzing the support we notice one important area.
- A support zone ranging from 0.55 to 0.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 0.59 to 0.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @0.60 from a horizontal line in the daily time frame.
- Resistance @0.62 from a horizontal line in the weekly time frame.
- Resistance @1.00 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 | DOWN | NEGATIVE | The long term trend for CORV.CA is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CORV.CA is down. |
| ChartMill Relative Strength | 7.79 | NEGATIVE | CORV.CA has a low relative strength, it was outperformed by 92.21% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of CORV.CA is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CORV.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CORV.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 47.32 | NEUTRAL | The RSI value for CORV.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CORV.CA has a negative trend. |
| Stochastics (14,3) | 33.33 | NEUTRAL | The Stochastics value for CORV.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 3.57 | MEDIUM VOLATILITY | The ATR as a percentage value for CORV.CA suggests some volalility. |
TSX:CORV (5/29/2020, 3:31:13 PM)
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0 (0%)
Correvio Pharma Corp / CORV.CA FAQ
Can you provide the ChartMill technical rating for Correvio Pharma Corp?
ChartMill assigns a technical rating of 4 / 10 to CORV.CA.
What is the trend direction for CORV stock?
The current trend direction for Correvio Pharma Corp (CORV.CA) is Bearish.
What is the RSI signal for Correvio Pharma Corp (CORV.CA) stock?
Correvio Pharma Corp (CORV.CA) has an RSI value of 47.3166. This indicates that the stock is currently neutral.
Can you provide the MACD signal for Correvio Pharma Corp?
The MACD indicator for Correvio Pharma Corp (CORV.CA) has a value of -0.00373092, indicating a bearish trend.
What is the buy/sell signal for Correvio Pharma Corp (CORV.CA) stock?
The buy/sell signal for Correvio Pharma Corp (CORV.CA) is sell as both the short term and long term trends are negative.