COVALON TECHNOLOGIES LTD (COV.CA) Stock Technical Analysis
TSX-V:COV - TSX Venture Exchange - CA22282D3022 - Common Stock - Currency: CAD
Overall COV gets a technical rating of 0 out of 10. COV'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.
When comparing the yearly performance of all stocks, COV is a bad performer in the overall market: 83% of all stocks are doing better.
COV is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month COV has a been trading in the 2.34 - 2.75 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.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
Warning: COV has an average volume of 15706 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
COV is an average performer in the Biotechnology industry, it outperforms 43% of 24 stocks in the same industry.
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
2.24
2.83
We found 1 important support area.
- Support @2.26 from a horizontal line in the weekly time frame.
We can see 3 important resistance areas.
- Resistance @2.41 from a trend line in the daily time frame.
- A resistance zone ranging from 2.50 to 2.63. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 2.75 to 2.80. This zone is formed by a combination of multiple trend lines 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 | NEUTRAL | NEUTRAL | The long term trend for COV.CA is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for COV.CA is down. |
| ChartMill Relative Strength | 17.33 | NEGATIVE | COV.CA has a low relative strength, it was outperformed by 82.67% 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) | 37.9 | 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. |
| Stochastics (14,3) | 12.55 | OVERSOLD | The low Stochastics value suggests COV.CA may be oversold. |
| Average True Range in percent/ATR (20) | 3.92 | MEDIUM VOLATILITY | The ATR as a percentage value for COV.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 14.04 | 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 (8/5/2025, 7:00:00 PM)
2.4
-0.05 (-2.04%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-2.04%
1 Week-7.34%
2 Weeks-6.25%
1 Month-8.4%
3 Month-8.75%
6 Month-22.33%
12 Month-4%
2 Year39.53%
3 Year-4.38%
5 Year101.68%
10 Year207.69%
15 Year1100%
Volatility
ATR(14)0.09
ATR(20)%3.92%
ATR Inc21.26%
Range Today0.12
ADR(20)0.09
ADR(20)%3.77%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS17.33
Mansfield-2.29
10 Day High2.68
10 Day Low2.34
20 Day High2.75
20 Day Low2.34
52 Week High4.3
52 Week Low2.06
CS1 End2.26
CR1 Start2.41
Volume & EV
DER(3)-56.26%
DER(5)-61.65%
Volume51.94K
Volume Incr22.6%
Vol(5)25.54K
Vol(50)15.71K