ISHARES BITCOIN TRUST ETF (IBIT) Stock Technical Analysis
NASDAQ:IBIT - Nasdaq - US46438F1012 - ETF - Currency: USD
We assign a technical rating of 8 out of 10 to IBIT. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
In the last month IBIT has a been trading in the 57.70 - 63.70 range, which is quite wide. It is currently trading near the lows of this range.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
Looking at the yearly performance, IBIT did better than 93% of all other stocks.
IBIT is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so IBIT is performing more or less in line with the market.
IBIT has an average volume of 44321100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
IBIT has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 58.66, a Stop Loss order could be placed below this zone.
More info and screens
39.74
63.87
When analyzing the support we can see 4 important areas.
- A support zone ranging from 57.86 to 58.66. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @47.54 from a trend line in the daily time frame.
- Support @46.15 from a trend line in the daily time frame.
- Support @40.14 from a trend line in the weekly time frame.
When analyzing the resistance we notice one important area.
- Resistance @63.24 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 | UP | POSITIVE | The long term trend for IBIT is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for IBIT is neutral. |
| ChartMill Relative Strength | 93.15 | POSITIVE | IBIT has a high relative strength, it outperformed 93.15% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of IBIT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IBIT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of IBIT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.98 | NEUTRAL | The RSI value for IBIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.5 | NEGATIVE | The MACD value suggests IBIT has a negative trend. |
| Stochastics (14,3) | 26.46 | NEUTRAL | The Stochastics value for IBIT is a neutral value. |
| Average True Range in percent/ATR (20) | 2.91 | MEDIUM VOLATILITY | The ATR as a percentage value for IBIT suggests some volalility. |
| Average Directional Index/ADX (14) | 15.51 | NEGATIVE | The low ADX value for IBIT 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)
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 |
|---|---|---|---|
| 60.46 | 58.14 | 2.33 (3.85%) | 25.00% |
| An entry @60.46. This is a Buy Stop order right above the 10 day moving average. | An exit @58.14. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 2.33 points, which is 3.85%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.96%. |
- The distance between exit and entry is rather small compared to the average daily movement of IBIT. 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.
58.67
-0.3 (-0.51%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.51%
1 Week-3.34%
2 Weeks1.38%
1 Month-5.05%
3 Month23%
6 Month7.04%
12 Month60.39%
2 Year107.21%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.74
ATR(20)%2.91%
ATR Inc-5.48%
Range Today2.18
ADR(20)1.28
ADR(20)%2.17%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.15
Mansfield1.98
10 Day High62.79
10 Day Low58.15
20 Day High63.7
20 Day Low57.7
52 Week High63.7
52 Week Low28.23
CS1 End58.66
CR1 Start63.24
Volume & EV
DER(3)-6.56%
DER(5)-4.38%
Volume35.26M
Volume Incr-9.56%
Vol(5)42.77M
Vol(50)44.32M