DRUG Technical Analysis - BRIGHT MINDS BIOSCIENCES INC

Technical Rating and Analysis

Overall DRUG gets a technical rating of 10 out of 10. Both in the recent history as in the last year, DRUG has proven to be a steady performer, scoring decent points in every aspect analyzed.

The long and short term trends are both positive. This is looking good!

DRUG is part of the Biotechnology industry. There are 536 other stocks in this industry. DRUG outperforms 91% of them.

DRUG is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month DRUG has a been trading in the 48.90 - 70.23 range, which is quite wide. It is currently trading near the high of this range.

Looking at the yearly performance, DRUG did better than 95% of all other stocks. We also observe that the gains produced by DRUG over the past year are nicely spread over this period. However, this overall good ranking is mostly due to the recent strong move.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BRIGHT MINDS BIOSCIENCES INC / DRUG Weekly stock chart

BRIGHT MINDS BIOSCIENCES INC / DRUG Daily stock chart

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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

32.54

63.77

When analyzing the support we can see 3 important areas.

Support @54.68 from a trend line in the daily time frame.
Support @52.82 from a trend line in the daily time frame.
Support @32.87 from a trend line in the weekly time frame.

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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	95.77	POSITIVE	DRUG has a high relative strength, it outperformed 95.77% 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)	61.58	NEUTRAL	The RSI value for DRUG is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.55	POSITIVE	The MACD value suggests DRUG has a positive trend, although the MACD value is declining.
Stochastics (14,3)	79.48	NEUTRAL	The Stochastics value for DRUG is a neutral value.
Average True Range in percent/ATR (20)	8.44	HIGH VOLATILITY	The high ATR as a percentage value for DRUG suggests high volalility.
Average Directional Index/ADX (14)	40.48	POSITIVE	The high ADX value value for DRUG suggests a strong trend.