MIND MEDICINE MINDMED INC (MNMD) Stock Technical Analysis
NASDAQ:MNMD - Nasdaq - CA60255C8850 - Common Stock - Currency: USD
Overall MNMD gets a technical rating of 8 out of 10. Although MNMD is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Both the short term and long term trends are positive. This is a very positive sign.
MNMD is one of the better performing stocks in the Pharmaceuticals industry, it outperforms 72% of 195 stocks in the same industry.
In the last month MNMD has a been trading in the 6.03 - 8.21 range, which is quite wide. It is currently trading near the high of this range.
MNMD has an average volume of 1171210 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that MNMD is one of the better performing stocks in the market, outperforming 75% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
MNMD is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MNMD is lagging the market slightly.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Besides having an excellent technical rating, MNMD also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. We notice that large players showed an interest for MNMD in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
5.36
9.60
3 important support areas can be observed.
- A support zone ranging from 7.24 to 7.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @5.79 from a trend line in the weekly time frame.
- Support @5.41 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 7.80 to 7.80. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @9.50 from a trend 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 MNMD is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MNMD is up. |
| ChartMill Relative Strength | 75.46 | POSITIVE | MNMD has a high relative strength, it outperformed 75.46% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MNMD is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MNMD is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MNMD is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.09 | NEUTRAL | The RSI value for MNMD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests MNMD has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 73.49 | NEUTRAL | The Stochastics value for MNMD is a neutral value. |
| Average True Range in percent/ATR (20) | 6.18 | HIGH VOLATILITY | The high ATR as a percentage value for MNMD suggests high volalility. |
| Average Directional Index/ADX (14) | 37.58 | POSITIVE | The high ADX value value for MNMD 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)
7.79
+0.1 (+1.3%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg1.3%
1 Week7.3%
2 Weeks10.18%
1 Month20.59%
3 Month14.06%
6 Month4.7%
12 Month7.45%
2 Year118.21%
3 Year1117%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.54
ATR(20)%6.18%
ATR Inc-28.95%
Range Today0.29
ADR(20)0.46
ADR(20)%5.92%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS75.46
Mansfield0.72
10 Day High8.01
10 Day Low6.72
20 Day High8.21
20 Day Low6.03
52 Week High10.44
52 Week Low4.7
CS1 End7.25
CR1 Start7.8
Volume & EV
DER(3)5.67%
DER(5)6.39%
Volume1.10M
Volume Incr-7.18%
Vol(5)1.10M
Vol(50)1.17M