CORVUS PHARMACEUTICALS INC (CRVS) Stock Technical Analysis
NASDAQ:CRVS - Nasdaq - US2210151005 - Common Stock - Currency: USD
Taking everything into account, CRVS scores 6 out of 10 in our technical rating. In the past year, CRVS was one of the better performing stocks in the market. The medium term picture became unclear, although we see some improvement happening in recent action.
CRVS has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 4.42. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 4.07, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CRVS 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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We found 4 important support areas.
- A support zone ranging from 4.00 to 4.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 3.88 to 3.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 3.72 to 3.75. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @3.29 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 4.42 to 4.51. 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 CRVS is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CRVS is up. |
| ChartMill Relative Strength | 93.64 | POSITIVE | CRVS has a high relative strength, it outperformed 93.64% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CRVS is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CRVS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CRVS is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.37 | NEUTRAL | The RSI value for CRVS is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests CRVS has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78.7 | NEUTRAL | The Stochastics value for CRVS is a neutral value. |
| Average True Range in percent/ATR (20) | 6.64 | HIGH VOLATILITY | The high ATR as a percentage value for CRVS suggests high volalility. |
| Average Directional Index/ADX (14) | 14.85 | NEGATIVE | The low ADX value for CRVS suggests a weak or negative 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 |
|---|---|---|---|
| 4.52 | 3.99 | 0.53 (11.73%) | 8.53% |
| An entry @4.52. This is a Buy Stop order right above the resistance zone. | An exit @3.99. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.53 points, which is 11.73%. | For a 1.00% total portfolio risk, you can invest 8.53% of your capital in this trade. |
- 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.
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-0.18 (-4.14%)