OVID Technical Analysis - OVID THERAPEUTICS INC

Technical Rating and Analysis

We assign a technical rating of 9 out of 10 to OVID. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, OVID is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

OVID is part of the Biotechnology industry. There are 540 other stocks in this industry. OVID outperforms 97% of them.

OVID is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month OVID has a been trading in the 1.12 - 1.82 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

OVID has an average volume of 1743500 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Looking at the yearly performance, OVID did better than 98% of all other stocks. However, this relatively good performance is mostly due to a recent big move.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

OVID THERAPEUTICS INC / OVID Weekly stock chart

OVID THERAPEUTICS INC / OVID Daily stock chart

Setup Rating and Analysis

Although OVID has an excellent technical rating, it does not offer a high 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.28

1.75

When analyzing the support we notice one important area.

A support zone ranging from 1.29 to 1.32. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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 OVID is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for OVID is up.
ChartMill Relative Strength	98.89	POSITIVE	OVID has a high relative strength, it outperformed 98.89% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of OVID is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of OVID is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of OVID is above the rising SMA(200).
Relative Strength Index/RSI (14)	80.56	OVERBOUGHT	The high RSI value suggests OVID may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.02	POSITIVE	The MACD value suggests OVID has a positive trend.
Stochastics (14,3)	86.65	OVERBOUGHT	The high Stochastics value suggests OVID may be overbought.
Average True Range in percent/ATR (20)	7.41	HIGH VOLATILITY	The high ATR as a percentage value for OVID suggests high volalility.
Average Directional Index/ADX (14)	50.8	POSITIVE	The high ADX value value for OVID suggests a strong trend.