CARECLOUD INC (MTBC) Stock Technical Analysis
NASDAQ:MTBC - Nasdaq - US14167R1005 - Common Stock - Currency: USD
We assign a technical rating of 0 out of 10 to MTBC. MTBC's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
When comparing the yearly performance of all stocks, MTBC is a bad performer in the overall market: 89% of all stocks are doing better.
MTBC is part of the Health Care Technology industry. There are 36 other stocks in this industry, of which 68% are performing better than MTBC.
MTBC 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.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
In the last month MTBC has a been trading in the 2.50 - 3.54 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
The technical rating of MTBC is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
3.08
4.49
We found 1 important support area.
- A support zone ranging from 3.11 to 3.12. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 3.50 to 3.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 4.02 to 4.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @4.45 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 | DOWN | NEGATIVE | The long term trend for MTBC is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for MTBC is neutral. |
| ChartMill Relative Strength | 11.1 | NEGATIVE | MTBC has a low relative strength, it was outperformed by 88.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of MTBC is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of MTBC is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of MTBC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.48 | NEUTRAL | The RSI value for MTBC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests MTBC has a positive trend. |
| Stochastics (14,3) | 37.72 | NEUTRAL | The Stochastics value for MTBC is a neutral value. |
| Average True Range in percent/ATR (20) | 5.71 | HIGH VOLATILITY | The high ATR as a percentage value for MTBC suggests high volalility. |
| Average Directional Index/ADX (14) | 26.2 | POSITIVE | The high ADX value value for MTBC 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)
NASDAQ:MTBC (1/9/2023, 8:23:58 PM)
3.13
+0.34 (+12.19%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Technology
Performance
% Chg12.19%
1 Week11.39%
2 Weeks5.74%
1 Month-3.4%
3 Month-21.95%
6 Month-13.3%
12 Month-44.89%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.18
ATR(20)%5.71%
ATR Inc113.26%
Range Today0.4
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS11.1
Mansfield-1.97
10 Day High3.21
10 Day Low2.5
20 Day High3.54
20 Day Low2.5
52 Week High6.75
52 Week Low2.5
CS1 End3.12
CR1 Start3.5
Volume & EV
DER(3)4.27%
DER(5)4%
Volume66.90K
Volume Incr92.22%
Vol(5)63.00K
Vol(50)46.54K