BRIGHT MINDS BIOSCIENCES INC (DRUG) Stock Technical Analysis
NASDAQ:DRUG - Nasdaq - CA10919W4056 - Common Stock - Currency: USD
We assign a technical rating of 2 out of 10 to DRUG. Although DRUG is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
In the last month DRUG has a been trading in the 25.30 - 37.00 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.
DRUG is one of the better performing stocks in the Biotechnology industry, it outperforms 100% of 560 stocks in the same industry.
The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
When comparing the yearly performance of all stocks, we notice that DRUG is one of the better performing stocks in the market, outperforming 99% of all stocks. However, this overall performance is mostly based on the strong move around 7 months ago.
DRUG is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so DRUG is lagging the market slightly.
The technical rating of DRUG 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
25.69
47.02
We can see 4 important resistance areas.
- Resistance @31.21 from a trend line in the daily time frame.
- Resistance @34.85 from a trend line in the daily time frame.
- Resistance @38.65 from a trend line in the weekly time frame.
- Resistance @46.55 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 | NEUTRAL | NEUTRAL | The long term trend for DRUG is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for DRUG is down. |
| ChartMill Relative Strength | 99.89 | POSITIVE | DRUG has a high relative strength, it outperformed 99.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of DRUG is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of DRUG is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of DRUG is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 30.06 | NEUTRAL | The RSI value for DRUG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.55 | NEGATIVE | The MACD value suggests DRUG has a negative trend. |
| Stochastics (14,3) | 8.4 | OVERSOLD | The low Stochastics value suggests DRUG may be oversold. |
| Average True Range in percent/ATR (20) | 9.64 | HIGH VOLATILITY | The high ATR as a percentage value for DRUG suggests high volalility. |
| Average Directional Index/ADX (14) | 15.78 | NEGATIVE | The low ADX value for DRUG 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)
25.95
-1.4 (-5.12%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-5.12%
1 Week-14.13%
2 Weeks-19.81%
1 Month-15.25%
3 Month-30.32%
6 Month-41.02%
12 Month2044.63%
2 Year727.49%
3 Year371.82%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.53
ATR(20)%9.64%
ATR Inc-32.74%
Range Today2.08
ADR(20)2.43
ADR(20)%9.36%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS99.89
Mansfield0.63
10 Day High34.88
10 Day Low25.3
20 Day High37
20 Day Low25.3
52 Week High79.02
52 Week Low0.93
CS1 EndN/A
CR1 Start31.21
Volume & EV
DER(3)-0.57%
DER(5)-0.54%
Volume26.20K
Volume Incr-15.32%
Vol(5)26.00K
Vol(50)31.19K