BRIGHT MINDS BIOSCIENCES INC (DRUG) Stock Technical Analysis
USA - NASDAQ:DRUG - CA10919W4056 - Common Stock
We assign a technical rating of 9 out of 10 to DRUG. In the last year, DRUG was one of the better performers, but we do observe some doubts in the very recent evolution.
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
35.50
We found 3 important support areas.
- A support zone ranging from 53.72 to 54.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 50.83 to 51.28. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @35.86 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @58.41 from a trend line in the daily time frame.
- Resistance @60.16 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 | UP | POSITIVE | The long term trend for DRUG is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for DRUG is neutral. |
| ChartMill Relative Strength | 93.82 | POSITIVE | DRUG has a high relative strength, it outperformed 93.82% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of DRUG is above a declining 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) | 51.47 | NEUTRAL | The RSI value for DRUG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests DRUG has a negative trend. |
| Stochastics (14,3) | 65.24 | NEUTRAL | The Stochastics value for DRUG is a neutral value. |
| Average True Range in percent/ATR (20) | 7.51 | HIGH VOLATILITY | The high ATR as a percentage value for DRUG suggests high volalility. |
| Average Directional Index/ADX (14) | 16.81 | NEGATIVE | The low ADX value for DRUG suggests a weak or negative trend. |
58
+0.11 (+0.19%)
BRIGHT MINDS BIOSCIENCES INC / DRUG FAQ
What is the ChartMill technical rating of BRIGHT MINDS BIOSCIENCES INC (DRUG) stock?
ChartMill assigns a technical rating of 9 / 10 to DRUG.
What is the trend direction for 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 51.4706. This indicates that the stock is currently neutral.
Can you provide the support and resistance levels for BRIGHT MINDS BIOSCIENCES INC?
BRIGHT MINDS BIOSCIENCES INC (DRUG) has a support level at 54.74 and a resistance level at 58.41. Check the full technical report for our detailed analysis of DRUG support and resistance levels.