ORGANIGRAM GLOBAL INC (OGI) Stock Technical Analysis
NASDAQ:OGI - Nasdaq - CA68617J1003 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to OGI. In the past year, OGI was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.
Although the technical rating is only medium, OGI does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 1.34. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.30, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for OGI in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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1.29
When analyzing the support we notice one important area.
- A support zone ranging from 1.30 to 1.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- Resistance @1.35 from a trend line in the daily time frame.
- A resistance zone ranging from 1.38 to 1.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @1.56 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 OGI is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OGI is up. |
| ChartMill Relative Strength | 64.84 | NEUTRAL | OGI is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OGI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of OGI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OGI is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 59.24 | NEUTRAL | The RSI value for OGI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests OGI has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 51.54 | NEUTRAL | The Stochastics value for OGI is a neutral value. |
| Average True Range in percent/ATR (20) | 5.11 | HIGH VOLATILITY | The high ATR as a percentage value for OGI suggests high volalility. |
| Average Directional Index/ADX (14) | 28.75 | POSITIVE | The high ADX value value for OGI suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 1.39 | 1.29 | 0.10 (7.19%) | 13.90% |
| An entry @1.39. This is a Buy Stop order right above the resistance zone. | An exit @1.29. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.10 points, which is 7.19%. | For a 1.00% total portfolio risk, you can invest 13.90% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
1.35
+0.04 (+3.05%)