COVALON TECHNOLOGIES LTD (COV.CA) Stock Technical Analysis
TSX-V:COV - TSX Venture Exchange - CA22282D3022 - Common Stock - Currency: CAD
Taking everything into account, COV scores 2 out of 10 in our technical rating. COV has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
COV is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so COV is lagging the market.
In the last month COV has a been trading in the 2.30 - 2.90 range, which is quite wide. It is currently trading near the lows of this range.
Warning: COV has an average volume of 14769 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
When compared to the yearly performance of all other stocks, COV outperforms 60% of them, which is more or less in line with the market.
COV is an average performer in the Biotechnology industry, it outperforms 65% of 24 stocks in the same industry.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, COV does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 2.26, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for COV 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.
More info and screens
2.22
2.58
When analyzing the support we notice one important area.
- A support zone ranging from 2.24 to 2.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 2.34 to 2.37. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 2.50 to 2.55. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | 60.88 | NEUTRAL | COV.CA is not amongst the best or worst performers 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) | UP | MIXED | The current price of COV.CA is below the rising 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) | 40.32 | NEUTRAL | The RSI value for COV.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests COV.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 7.33 | OVERSOLD | The low Stochastics value suggests COV.CA may be oversold. |
| Average True Range in percent/ATR (20) | 3.76 | MEDIUM VOLATILITY | The ATR as a percentage value for COV.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 17.83 | NEGATIVE | The low ADX value for COV.CA 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)
TSX-V:COV (6/13/2025, 7:00:00 PM)
2.33
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg0%
1 Week-1.69%
2 Weeks-4.51%
1 Month-8.63%
3 Month0%
6 Month-31.27%
12 Month17.09%
2 Year31.64%
3 Year-11.41%
5 Year60.69%
10 Year130.69%
15 Year796.15%
Volatility
ATR(14)0.08
ATR(20)%3.76%
ATR Inc-69.83%
Range Today0.03
ADR(20)0.06
ADR(20)%2.68%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS60.88
Mansfield-2.1
10 Day High2.48
10 Day Low2.3
20 Day High2.9
20 Day Low2.3
52 Week High4.3
52 Week Low2.01
CS1 End2.26
CR1 Start2.34
Volume & EV
DER(3)0%
DER(5)7.57%
Volume2.80K
Volume Incr-58.43%
Vol(5)5.01K
Vol(50)14.77K