PSYENCE BIOMEDICAL LTD (PBM) Stock Technical Analysis
NASDAQ:PBM - Nasdaq - CA74449F2098 - Common Stock - Currency: USD
Overall PBM gets a technical rating of 4 out of 10. In the past year, PBM was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is only medium, PBM does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 5.53. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 4.91, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for PBM 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.
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4.35
2 important support areas can be observed.
- A support zone ranging from 4.84 to 4.91. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @4.39 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 5.53 to 5.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @6.01 from a horizontal 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 | DOWN | NEGATIVE | The long term trend for PBM is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PBM is up. |
| ChartMill Relative Strength | 8.79 | NEGATIVE | PBM has a low relative strength, it was outperformed by 91.21% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PBM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PBM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of PBM is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.61 | NEUTRAL | The RSI value for PBM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests PBM has a positive trend. |
| Stochastics (14,3) | 58.99 | NEUTRAL | The Stochastics value for PBM is a neutral value. |
| Average True Range in percent/ATR (20) | 8.14 | HIGH VOLATILITY | The high ATR as a percentage value for PBM suggests high volalility. |
| Average Directional Index/ADX (14) | 38.4 | POSITIVE | The high ADX value value for PBM suggests a strong trend. |
5.325
-0.04 (-0.65%)