IM CANNABIS CORP (IMCC) Stock Technical Analysis
NASDAQ:IMCC - Nasdaq - CA44969Q4060 - Common Stock - Currency: USD
Overall IMCC gets a technical rating of 7 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, IMCC is only an average performer.
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 1.54 - 7.12 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.
The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now.
IMCC is one of the better performing stocks in the Pharmaceuticals industry, it outperforms 76% of 195 stocks in the same industry.
When comparing the yearly performance of all stocks, we notice that IMCC is one of the better performing stocks in the market, outperforming 78% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
Considerably lower volume is observed in the last couple of days.
IMCC has an excellent technical rating, but the quality of the setup is 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
1.36
2.46
When analyzing the support we can see 2 important areas.
- Support @1.67 from a trend line in the daily time frame.
- Support @1.37 from a horizontal 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 | 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 | 78.61 | POSITIVE | IMCC has a high relative strength, it outperformed 78.61% 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) | DOWN | MIXED | The current price of IMCC is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 49.19 | NEUTRAL | The RSI value for IMCC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests IMCC has a negative trend. |
| Stochastics (14,3) | 15.38 | OVERSOLD | The low Stochastics value suggests IMCC may be oversold. |
| Average True Range in percent/ATR (20) | 35.41 | HIGH VOLATILITY | The high ATR as a percentage value for IMCC suggests high volalility. |
| Average Directional Index/ADX (14) | 46.03 | 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)
2.44
-0.18 (-6.87%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg-6.87%
1 Week-11.59%
2 Weeks-60.65%
1 Month50.15%
3 Month37.08%
6 Month-1.21%
12 Month-11.67%
2 Year-55.71%
3 Year-36.29%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.15
ATR(20)%35.41%
ATR Inc-74.51%
Range Today0.28
ADR(20)0.85
ADR(20)%34.75%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS78.61
Mansfield-0.02
10 Day High7.12
10 Day Low2.36
20 Day High7.12
20 Day Low1.54
52 Week High7.12
52 Week Low1.29
CS1 End1.67
CR1 StartN/A
Volume & EV
DER(3)-10.52%
DER(5)-9.1%
Volume38.70K
Volume Incr-90.64%
Vol(5)59.32K
Vol(50)265.42K