HIVE DIGITAL TECHNOLOGIES LT (HIVE) Stock Technical Analysis
NASDAQ:HIVE - Nasdaq - CA4339211035 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to HIVE. HIVE has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
When comparing the yearly performance of all stocks, HIVE is a bad performer in the overall market: 80% of all stocks are doing better.
HIVE is part of the Software industry. There are 282 other stocks in this industry, of which 62% are performing better than HIVE.
HIVE 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.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
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 21249400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although the technical rating is only medium, HIVE does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.26, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HIVE in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
1.78
4.32
4 important support areas can be observed.
- A support zone ranging from 2.22 to 2.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.15 from a horizontal line in the daily time frame.
- Support @1.84 from a trend line in the weekly time frame.
- Support @1.80 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 2.32 to 2.33. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @4.28 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The long term trend for HIVE is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HIVE is up. |
| ChartMill Relative Strength | 20.57 | NEGATIVE | HIVE has a low relative strength, it was outperformed by 79.43% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HIVE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HIVE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of HIVE is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 61.69 | NEUTRAL | The RSI value for HIVE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests HIVE has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 63.69 | NEUTRAL | The Stochastics value for HIVE is a neutral value. |
| Average True Range in percent/ATR (20) | 8.02 | HIGH VOLATILITY | The high ATR as a percentage value for HIVE suggests high volalility. |
| Average Directional Index/ADX (14) | 25.43 | POSITIVE | The high ADX value value for HIVE suggests a strong 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 2.34 | 2.21 | 0.13 (5.56%) | 18.00% |
| An entry @2.34. This is a Buy Stop order right above the resistance zone. | An exit @2.21. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.13 points, which is 5.56%. | For a 1.00% total portfolio risk, you can invest 18.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of HIVE. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
2.27
+0.04 (+1.79%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustrySoftware
Performance
% Chg1.79%
1 Week-1.3%
2 Weeks0%
1 Month33.53%
3 Month26.82%
6 Month-26.54%
12 Month-40.42%
2 Year-58.12%
3 Year-49.67%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.21
ATR(20)%8.02%
ATR Inc12.25%
Range Today0.26
ADR(20)0.18
ADR(20)%7.89%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS20.57
Mansfield-2.28
10 Day High2.51
10 Day Low2.09
20 Day High2.51
20 Day Low1.6
52 Week High5.54
52 Week Low1.26
CS1 End2.26
CR1 Start2.32
Volume & EV
DER(3)6.33%
DER(5)4.65%
Volume40.61M
Volume Incr19.11%
Vol(5)29.91M
Vol(50)21.25M