MIND MEDICINE MINDMED INC (MNMD) Stock Technical Analysis
NASDAQ:MNMD - Nasdaq - CA60255C8850 - Common Stock - Currency: USD
We assign a technical rating of 2 out of 10 to MNMD. MNMD scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
68% of all other stocks performed better in the past year than MNMD.
In the last month MNMD has a been trading in the 6.34 - 8.19 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.
Volume is considerably higher in the last couple of days. In combination with the strong move down this is a bad signal.
MNMD has an average volume of 1132930 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is neutral, but the short term trend is negative. Better to stay away from this!
MNMD is an average performer in the Pharmaceuticals industry, it outperforms 58% of 195 stocks in the same industry.
MNMD is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so MNMD is lagging the market.
MNMD has a poor technical rating and the quality of the setup is also only medium at the moment. Prices have been consolidating lately and the volatility has been reduced.
More info and screens
5.36
9.51
We found 3 important support areas.
- A support zone ranging from 6.54 to 6.54. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @5.90 from a trend line in the weekly time frame.
- Support @5.41 from a horizontal line in the weekly time frame.
5 important resistance areas can be observed.
- A resistance zone ranging from 6.82 to 6.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 7.15 to 7.25. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @7.40 from a trend line in the weekly time frame.
- Resistance @7.59 from a trend line in the daily time frame.
- Resistance @9.42 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 | NEUTRAL | NEUTRAL | The long term trend for MNMD is neutral. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for MNMD is down. |
| ChartMill Relative Strength | 32.8 | NEUTRAL | MNMD is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of MNMD is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of MNMD is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of MNMD is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 41.87 | NEUTRAL | The RSI value for MNMD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.11 | NEGATIVE | The MACD value suggests MNMD has a negative trend. |
| Stochastics (14,3) | 19.95 | OVERSOLD | The low Stochastics value suggests MNMD may be oversold. |
| Average True Range in percent/ATR (20) | 7.07 | HIGH VOLATILITY | The high ATR as a percentage value for MNMD suggests high volalility. |
| Average Directional Index/ADX (14) | 20.45 | NEUTRAL | The ADX value for MNMD suggests a possible start of a new 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)
6.55
-0.19 (-2.82%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryPharmaceuticals
Performance
% Chg-2.82%
1 Week-7.09%
2 Weeks-10.27%
1 Month-9.78%
3 Month5.82%
6 Month-4.24%
12 Month-9.15%
2 Year83.47%
3 Year923.28%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.48
ATR(20)%7.07%
ATR Inc-30.75%
Range Today0.4
ADR(20)0.45
ADR(20)%6.94%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS32.8
Mansfield-1.12
10 Day High7.34
10 Day Low6.34
20 Day High8.19
20 Day Low6.34
52 Week High10.44
52 Week Low4.7
CS1 End6.54
CR1 Start6.82
Volume & EV
DER(3)-1.63%
DER(5)1.52%
Volume2.16M
Volume Incr61.97%
Vol(5)1.73M
Vol(50)1.13M