IM CANNABIS CORP (IMCC) Stock Technical Analysis
NASDAQ:IMCC - Nasdaq - CA44969Q4060 - Common Stock - Currency: USD
Taking everything into account, IMCC scores 4 out of 10 in our technical rating. IMCC has been an average performer in the overall market, it is still ok in the medium term time frame, but very the very recent evolution is negative.
IMCC is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so IMCC is lagging the market.
In the last month IMCC has a been trading in the 2.37 - 3.75 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been falling strongly lately, it is better to avoid new long positions here.
IMCC is part of the Pharmaceuticals industry. There are 194 other stocks in this industry. IMCC outperforms 74% of them.
The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
When comparing the yearly performance of all stocks, we notice that IMCC is one of the better performing stocks in the market, outperforming 79% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
Considerably lower volume is observed in the last couple of days.
IMCC has an average technical rating and it also does not offer a high quality setup 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
1.36
3.26
When analyzing the support we notice one important area.
- Support @1.37 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 2.54 to 2.58. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @3.23 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 | NEUTRAL | NEUTRAL | The long term trend for IMCC is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for IMCC is down. |
| ChartMill Relative Strength | 79.41 | POSITIVE | IMCC has a high relative strength, it outperformed 79.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of IMCC is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of IMCC is below 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) | 41.1 | NEUTRAL | The RSI value for IMCC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests IMCC has a negative trend. |
| Stochastics (14,3) | 8.83 | OVERSOLD | The low Stochastics value suggests IMCC may be oversold. |
| Average True Range in percent/ATR (20) | 13.22 | HIGH VOLATILITY | The high ATR as a percentage value for IMCC suggests high volalility. |
| Average Directional Index/ADX (14) | 26.2 | 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)
2.53
-0.09 (-3.44%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg-3.44%
1 Week-9.96%
2 Weeks-26.02%
1 Month-14.53%
3 Month46.24%
6 Month16.59%
12 Month-10.6%
2 Year-53.14%
3 Year-13.06%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.29
ATR(20)%13.22%
ATR Inc-28.15%
Range Today0.24
ADR(20)0.33
ADR(20)%13.02%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.41
Mansfield-0.01
10 Day High3.4
10 Day Low2.37
20 Day High3.75
20 Day Low2.37
52 Week High7.12
52 Week Low1.29
CS1 End1.37
CR1 Start2.54
Volume & EV
DER(3)1.52%
DER(5)3.85%
Volume23.10K
Volume Incr-43.62%
Vol(5)42.40K
Vol(50)332.99K