EDESA BIOTECH INC (EDSA) Stock Technical Analysis
NASDAQ:EDSA - Nasdaq - CA27966L3065 - Common Stock - Currency: USD
Overall EDSA gets a technical rating of 2 out of 10. EDSA's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
When comparing the yearly performance of all stocks, EDSA is a bad performer in the overall market: 89% of all stocks are doing better.
EDSA is part of the Biotechnology industry. There are 550 other stocks in this industry, of which 62% are performing better than EDSA.
EDSA is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
Warning: EDSA has an average volume of 24276 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
In the last month EDSA has a been trading in the 2.02 - 2.55 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
EDSA has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 2.16, a Stop Loss order could be placed below this zone.
More info and screens
1.84
2.51
When analyzing the support we can see 5 important areas.
- A support zone ranging from 2.12 to 2.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.08 from a horizontal line in the daily time frame.
- Support @1.95 from a trend line in the daily time frame.
- Support @1.89 from a trend line in the weekly time frame.
- Support @1.86 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 2.26 to 2.29. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 2.35 to 2.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @2.44 from a horizontal line in the daily time frame.
- Resistance @2.49 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 | DOWN | NEGATIVE | The long term trend for EDSA is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for EDSA is neutral. |
| ChartMill Relative Strength | 11.28 | NEGATIVE | EDSA has a low relative strength, it was outperformed by 88.72% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of EDSA is below a declining 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) | DOWN | MIXED | The current price of EDSA is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 52.44 | NEUTRAL | The RSI value for EDSA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests EDSA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 52.26 | NEUTRAL | The Stochastics value for EDSA is a neutral value. |
| Average True Range in percent/ATR (20) | 5.98 | HIGH VOLATILITY | The high ATR as a percentage value for EDSA suggests high volalility. |
| Average Directional Index/ADX (14) | 18.57 | NEGATIVE | The low ADX value for EDSA suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
2.235
-0.02 (-1.11%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-1.11%
1 Week5.42%
2 Weeks4.44%
1 Month-6.87%
3 Month10.1%
6 Month-16.91%
12 Month-48.97%
2 Year-62.3%
3 Year-83.02%
5 Year-96.58%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.14
ATR(20)%5.98%
ATR Inc-32.85%
Range Today0.05
ADR(20)0.13
ADR(20)%5.86%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS11.28
Mansfield-2.1
10 Day High2.35
10 Day Low2.02
20 Day High2.55
20 Day Low2.02
52 Week High5
52 Week Low1.55
CS1 End2.16
CR1 Start2.26
Volume & EV
DER(3)-7.7%
DER(5)-3.11%
Volume17.20K
Volume Incr-56.39%
Vol(5)16.54K
Vol(50)24.28K