EDESA BIOTECH INC (EDSA) Technical Analysis
NASDAQ:EDSA • CA27966L3065
Current stock price
EDSA Technical Rating and Analysis
We assign a technical rating of 9 out of 10 to EDSA. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, EDSA is showing a nice and steady performance.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- Both the short term and long term trends are positive. This is a very positive sign.
- EDSA is one of the better performing stocks in the Biotechnology industry, it outperforms 97% of 517 stocks in the same industry.
- A new 52 week high is currently being made by EDSA, which is a very good signal! Especially since the S&P500 is only trading in the upper part of its 52 week range, so EDSA is leading the market.
- In the last month EDSA has a been trading in the 0.76 - 9.37 range, which is quite wide. It is currently trading near the high of this range.
- EDSA has an average volume of 5240040 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When comparing the yearly performance of all stocks, we notice that EDSA is one of the better performing stocks in the market, outperforming 99% of all stocks. However, this relatively good performance is mostly due to a recent big move.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
EDSA Weekly and Daily overview Charts
EDSA Setup Rating and Analysis
Although EDSA has an excellent technical rating, it 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
EDSA Support and Resistance Analysis
6.14
We found 1 important support area.
- Support @6.20 from a trend line in the daily time frame.
EDSA 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 EDSA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for EDSA is up. |
| ChartMill Relative Strength | 99.4 | POSITIVE | EDSA has a high relative strength, it outperformed 99.4% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of EDSA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of EDSA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of EDSA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 69.62 | NEUTRAL | The RSI value for EDSA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.17 | POSITIVE | The MACD value suggests EDSA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 78 | NEUTRAL | The Stochastics value for EDSA is a neutral value. |
| Average True Range in percent/ATR (20) | 18.26 | HIGH VOLATILITY | The high ATR as a percentage value for EDSA suggests high volalility. |
| Average Directional Index/ADX (14) | 60.45 | POSITIVE | The high ADX value value for EDSA suggests a strong trend. |
EDSA Chart- and CandleStick Pattern Analysis
EDSA Technicals: Chart, Performance Metrics, Trend & Indicators
7.35
+0.12 (+1.66%)
EDESA BIOTECH INC / EDSA TA FAQ
What is the technical rating for EDSA stock?
ChartMill assigns a technical rating of 9 / 10 to EDSA.
Can you provide the trend direction for EDESA BIOTECH INC?
The current trend direction for EDESA BIOTECH INC (EDSA) is Bullish.
What is the RSI signal for EDSA stock?
EDESA BIOTECH INC (EDSA) has an RSI value of 69.6199. This indicates that the stock is currently neutral.
What is the MACD signal for EDSA stock?
The MACD indicator for EDESA BIOTECH INC (EDSA) has a value of 0.172621, indicating a bearish trend.
What is the short term momentum for EDSA stock?
The short term momentum for EDESA BIOTECH INC (EDSA) is positive.