BRIGHT MINDS BIOSCIENCES INC (DRUG) Technical Analysis
NASDAQ:DRUG • CA10919W4056
Current stock price
DRUG Technical Rating and Analysis
Taking everything into account, DRUG scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, DRUG is showing a nice and steady performance.
- The long and short term trends are both positive. This is looking good!
- Looking at the yearly performance, DRUG did better than 94% of all other stocks. We also observe that the gains produced by DRUG over the past year are nicely spread over this period.
- DRUG is one of the better performing stocks in the Biotechnology industry, it outperforms 84% of 516 stocks in the same industry.
- DRUG is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- DRUG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so DRUG is lagging the market.
DRUG Weekly and Daily overview Charts
DRUG Setup Rating and Analysis
DRUG has an excellent technical rating, but the quality of the setup is only medium 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
48.57
When analyzing the support we can see 4 important areas.
- Support @87.42 from a horizontal line in the daily time frame.
- Support @74.90 from a trend line in the weekly time frame.
- Support @72.25 from a trend line in the daily time frame.
- Support @49.06 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 89.90 to 90.49. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @95.99 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 | UP | POSITIVE | The short term trend for DRUG is up. |
| ChartMill Relative Strength | 94.95 | POSITIVE | DRUG has a high relative strength, it outperformed 94.95% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of DRUG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of DRUG is above the rising 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) | 61.69 | NEUTRAL | The RSI value for DRUG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.63 | POSITIVE | The MACD value suggests DRUG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.96 | OVERBOUGHT | The high Stochastics value suggests DRUG may be overbought. |
| Average True Range in percent/ATR (20) | 5.51 | HIGH VOLATILITY | The high ATR as a percentage value for DRUG suggests high volalility. |
| Average Directional Index/ADX (14) | 21.84 | NEUTRAL | The ADX value for DRUG suggests a possible start of a new trend. |
DRUG Chart- and CandleStick Pattern Analysis
DRUG Technicals: Chart, Performance Metrics, Trend & Indicators
89.16
+0.48 (+0.54%)
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 10 / 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.
Can you provide the RSI signal for BRIGHT MINDS BIOSCIENCES INC?
BRIGHT MINDS BIOSCIENCES INC (DRUG) has an RSI value of 61.6885. This indicates that the stock is currently neutral.
What is the short term momentum for DRUG stock?
The short term momentum for BRIGHT MINDS BIOSCIENCES INC (DRUG) is positive.
What is the buy/sell signal for DRUG stock?
The buy/sell signal for BRIGHT MINDS BIOSCIENCES INC (DRUG) is buy as both the short term and long term trends are positive.