BETAPRO MARIJUANA COMP INVER (HMJI.CA) Stock Technical Analysis
TSX:HMJI - Toronto Stock Exchange - CA08664J1084 - ETF - Currency: CAD
Taking everything into account, HMJI scores 3 out of 10 in our technical rating. Although HMJI is scoring some points because its good overall performance in the market in the past year, recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
Warning: HMJI has an average volume of 914 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
When comparing the yearly performance of all stocks, we notice that HMJI is one of the better performing stocks in the market, outperforming 80% of all stocks. However, HMJI's most recent performance is quite weak.
HMJI is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so HMJI is lagging the market.
In the last month HMJI has a been trading in the 18.99 - 30.70 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
HMJI has a poor technical rating and the quality of the setup is also 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
13.65
33.28
When analyzing the support we can see 4 important areas.
- A support zone ranging from 22.65 to 23.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @16.78 from a trend line in the weekly time frame.
- Support @14.56 from a trend line in the weekly time frame.
- Support @13.79 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 31.70 to 32.02. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @32.95 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 HMJI.CA is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for HMJI.CA is down. |
| ChartMill Relative Strength | 80.58 | POSITIVE | HMJI.CA has a high relative strength, it outperformed 80.58% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of HMJI.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of HMJI.CA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of HMJI.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 34.71 | NEUTRAL | The RSI value for HMJI.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.5 | NEGATIVE | The MACD value suggests HMJI.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 41.09 | NEUTRAL | The Stochastics value for HMJI.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 5.14 | HIGH VOLATILITY | The high ATR as a percentage value for HMJI.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 40.54 | POSITIVE | The high ADX value value for HMJI.CA 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)
TSX:HMJI (2/8/2024, 7:00:00 PM)
23.61
+0.67 (+2.92%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg2.92%
1 Week-2.76%
2 Weeks-18.64%
1 Month-25.05%
3 Month-28.35%
6 Month-17.33%
12 Month53.81%
2 Year3.01%
3 Year127.46%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.38
ATR(20)%5.14%
ATR Inc-61.19%
Range Today0
ADR(20)0.68
ADR(20)%2.88%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS80.58
Mansfield-1.66
10 Day High28.53
10 Day Low18.99
20 Day High30.7
20 Day Low18.99
52 Week High32.96
52 Week Low13.7
CS1 End23
CR1 Start31.7
Volume & EV
DER(3)0%
DER(5)0%
Volume107
Volume Incr-42.55%
Vol(5)772.6
Vol(50)914.1