BRIGHT MINDS BIOSCIENCES INC (DRUG) Technical Analysis
NASDAQ:DRUG • CA10919W4056
Current stock price
DRUG Technical Rating and Analysis
We assign a technical rating of 5 out of 10 to DRUG. DRUG was one of the better performers in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
- In the last month DRUG has a been trading in the 69.01 - 91.00 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.
- When comparing the yearly performance of all stocks, we notice that DRUG is one of the better performing stocks in the market, outperforming 90% of all stocks. On top of that, DRUG also shows a nice and consistent pattern of rising prices.
- DRUG is one of the better performing stocks in the Biotechnology industry, it outperforms 74% of 518 stocks in the same industry.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
- 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.
DRUG Weekly and Daily overview Charts
DRUG Setup Rating and Analysis
DRUG has an average technical rating and it also does not offer a high 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
DRUG Support and Resistance Analysis
45.60
We found 1 important support area.
- Support @46.06 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @87.28 from a trend line in the daily time frame.
- Resistance @90.39 from a horizontal line in the daily time frame.
DRUG Technical Indicator Signal Analysis
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 | UP | POSITIVE | The long term trend for DRUG is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for DRUG is down. |
| ChartMill Relative Strength | 90.9 | POSITIVE | DRUG has a high relative strength, it outperformed 90.9% 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 | POSITIVE | The current price of DRUG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 34.98 | NEUTRAL | The RSI value for DRUG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.15 | NEGATIVE | The MACD value suggests DRUG has a negative trend. |
| Stochastics (14,3) | 12.75 | OVERSOLD | The low Stochastics value suggests DRUG may be oversold. |
| Average True Range in percent/ATR (20) | 7.26 | HIGH VOLATILITY | The high ATR as a percentage value for DRUG suggests high volalility. |
| Average Directional Index/ADX (14) | 18.59 | NEGATIVE | The low ADX value for DRUG suggests a weak or negative trend. |
DRUG Chart- and CandleStick Pattern Analysis
DRUG Technicals: Chart, Performance Metrics, Trend & Indicators
69.85
-2.28 (-3.16%)
BRIGHT MINDS BIOSCIENCES INC / DRUG TA FAQ
What is the ChartMill technical rating of BRIGHT MINDS BIOSCIENCES INC (DRUG) stock?
ChartMill assigns a technical rating of 5 / 10 to DRUG.
What is the current trend direction of BRIGHT MINDS BIOSCIENCES INC (DRUG) stock?
The current trend direction for BRIGHT MINDS BIOSCIENCES INC (DRUG) is Bullish.
What is the RSI signal for BRIGHT MINDS BIOSCIENCES INC (DRUG) stock?
BRIGHT MINDS BIOSCIENCES INC (DRUG) has an RSI value of 34.9828. This indicates that the stock is currently neutral.
Can you provide the short term momentum for BRIGHT MINDS BIOSCIENCES INC?
The short term momentum for BRIGHT MINDS BIOSCIENCES INC (DRUG) is negative.
What are the support and resistance levels for BRIGHT MINDS BIOSCIENCES INC (DRUG) stock?
BRIGHT MINDS BIOSCIENCES INC (DRUG) has a support level at 46.06 and a resistance level at 87.28. Check the full technical report for our detailed analysis of DRUG support and resistance levels.