HIVE Technical Analysis - HIVE DIGITAL TECHNOLOGIES LT

Technical Rating and Analysis

We assign a technical rating of 9 out of 10 to HIVE. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, HIVE is showing a nice and steady performance.

Both the short term and long term trends are positive. This is a very positive sign.

HIVE is part of the Software industry. There are 64 other stocks in this industry. HIVE outperforms 80% of them.

HIVE 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.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

HIVE has an average volume of 1999920 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Looking at the yearly performance, HIVE did better than 87% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

HIVE is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so HIVE is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

HIVE DIGITAL TECHNOLOGIES LT / HIVE Weekly stock chart

HIVE DIGITAL TECHNOLOGIES LT / HIVE Daily stock chart

Setup Rating and Analysis

HIVE 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

2.82

6.09

We found 3 important support areas.

Support @3.87 from a trend line in the daily time frame.
Support @3.48 from a trend line in the daily time frame.
Support @2.85 from a trend line in the weekly time frame.

2 important resistance areas can be observed.

Resistance @5.26 from a horizontal line in the weekly time frame.
Resistance @6.03 from a trend line in the weekly time frame.

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What is Support and Resistance

Support and Resistance indicators

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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 HIVE.CA is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for HIVE.CA is up.
ChartMill Relative Strength	87.44	POSITIVE	HIVE.CA has a high relative strength, it outperformed 87.44% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of HIVE.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of HIVE.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of HIVE.CA is above a declining SMA(200).
Relative Strength Index/RSI (14)	73.06	OVERBOUGHT	The high RSI value suggests HIVE.CA may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.1	POSITIVE	The MACD value suggests HIVE.CA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	70.26	NEUTRAL	The Stochastics value for HIVE.CA is a neutral value.
Average True Range in percent/ATR (20)	6.87	HIGH VOLATILITY	The high ATR as a percentage value for HIVE.CA suggests high volalility.
Average Directional Index/ADX (14)	47.06	POSITIVE	The high ADX value value for HIVE.CA suggests a strong trend.