COVALON TECHNOLOGIES LTD (COV.CA) Stock Technical Analysis
Canada • TSX Venture Exchange • TSX-V:COV • CA22282D3022
Overall COV gets a technical rating of 0 out of 10. COV scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
- 96% of all other stocks performed better in the past year than COV.
- COV is part of the Biotechnology industry. There are 24 other stocks in this industry, of which 73% are performing better than COV.
- COV is currently making a new 52 week low. This is a very bad signal. Certainly because the S&P500 Index is trading near new highs.
- In the last month COV has a been trading in the 1.59 - 1.89 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- Warning: COV has an average volume of 14646 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
- Considerably lower volume is observed in the last couple of days.
The technical rating of COV is bad and it also does not present a quality setup 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
1.56
We found 1 important support area.
- A support zone ranging from 1.58 to 1.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 6 important areas.
- A resistance zone ranging from 1.65 to 1.65. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 1.68 to 1.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @1.73 from a trend line in the daily time frame.
- A resistance zone ranging from 1.80 to 1.81. This zone is formed by a combination of multiple trend lines and important moving averages in the weekly time frame.
- Resistance @1.90 from a trend line in the weekly time frame.
- Resistance @2.80 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 | DOWN | NEGATIVE | The long term trend for COV.CA is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for COV.CA is down. |
| ChartMill Relative Strength | 4.25 | NEGATIVE | COV.CA has a low relative strength, it was outperformed by 95.75% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of COV.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of COV.CA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of COV.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 33.99 | NEUTRAL | The RSI value for COV.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests COV.CA has a negative trend. |
| Stochastics (14,3) | 5.29 | OVERSOLD | The low Stochastics value suggests COV.CA may be oversold. |
| Average True Range in percent/ATR (20) | 3.4 | MEDIUM VOLATILITY | The ATR as a percentage value for COV.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 15.86 | NEGATIVE | The low ADX value for COV.CA suggests a weak or negative trend. |
TSX-V:COV (2/6/2026, 7:00:00 PM)
1.59
-0.02 (-1.24%)
COVALON TECHNOLOGIES LTD / COV.CA FAQ
Can you provide the ChartMill technical rating for COVALON TECHNOLOGIES LTD?
ChartMill assigns a technical rating of 0 / 10 to COV.CA.
What is the trend direction for COV stock?
The current trend direction for COVALON TECHNOLOGIES LTD (COV.CA) is Bearish.
Can you provide the RSI signal for COVALON TECHNOLOGIES LTD?
COVALON TECHNOLOGIES LTD (COV.CA) has an RSI value of 33.9862. This indicates that the stock is currently neutral.
What is the short term momentum for COVALON TECHNOLOGIES LTD (COV.CA) stock?
The short term momentum for COVALON TECHNOLOGIES LTD (COV.CA) is negative.
What is the buy/sell signal for COVALON TECHNOLOGIES LTD (COV.CA) stock?
The buy/sell signal for COVALON TECHNOLOGIES LTD (COV.CA) is sell as both the short term and long term trends are negative.