IM CANNABIS CORP (IMCC) Stock Technical Analysis
NASDAQ:IMCC - Nasdaq - CA44969Q4060 - Common Stock - Currency: USD
Taking everything into account, IMCC scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, IMCC is showing a nice and steady performance.
IMCC 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 long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
IMCC is part of the Pharmaceuticals industry. There are 194 other stocks in this industry. IMCC outperforms 87% of them.
Looking at the yearly performance, IMCC did better than 93% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
In the last month IMCC has a been trading in the 2.37 - 3.75 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Considerably lower volume is observed in the last couple of days.
IMCC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period.
More info and screens
1.36
3.38
We found 2 important support areas.
- A support zone ranging from 2.86 to 2.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.37 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 3.06 to 3.09. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @3.35 from a trend 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 IMCC is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for IMCC is neutral. |
| ChartMill Relative Strength | 93.1 | POSITIVE | IMCC has a high relative strength, it outperformed 93.1% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of IMCC is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IMCC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of IMCC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 47.67 | NEUTRAL | The RSI value for IMCC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests IMCC has a negative trend. |
| Stochastics (14,3) | 30.4 | NEUTRAL | The Stochastics value for IMCC is a neutral value. |
| Average True Range in percent/ATR (20) | 12.52 | HIGH VOLATILITY | The high ATR as a percentage value for IMCC suggests high volalility. |
| Average Directional Index/ADX (14) | 35.97 | POSITIVE | The high ADX value value for IMCC 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)
2.87
-0.15 (-4.97%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg-4.97%
1 Week-14.07%
2 Weeks-16.57%
1 Month3.61%
3 Month102.11%
6 Month29.86%
12 Month13.89%
2 Year-44.57%
3 Year-3.54%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.37
ATR(20)%12.52%
ATR Inc-24.64%
Range Today0.32
ADR(20)0.35
ADR(20)%12.35%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS93.1
Mansfield1.03
10 Day High3.61
10 Day Low2.76
20 Day High3.75
20 Day Low2.37
52 Week High7.12
52 Week Low1.29
CS1 End2.86
CR1 Start3.06
Volume & EV
DER(3)-8.37%
DER(5)-6.05%
Volume51.00K
Volume Incr-57.74%
Vol(5)56.22K
Vol(50)329.02K