PROMIS NEUROSCIENCES INC (PMN) Stock Technical Analysis
NASDAQ:PMN • CA74346M5054
Overall PMN gets a technical rating of 8 out of 10. Although PMN is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- PMN 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.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- The long and short term trends are both positive. This is looking good!
- When comparing the yearly performance of all stocks, we notice that PMN is one of the better performing stocks in the market, outperforming 71% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
- PMN is an average performer in the Biotechnology industry, it outperforms 63% of 520 stocks in the same industry.
- In the last month PMN has a been trading in the 8.96 - 19.85 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although PMN has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
6.69
2 important support areas can be observed.
- A support zone ranging from 14.86 to 14.96. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @6.76 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 16.10 to 16.29. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @23.28 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 | UP | POSITIVE | The long term trend for PMN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PMN is up. |
| ChartMill Relative Strength | 71.92 | POSITIVE | PMN has a high relative strength, it outperformed 71.92% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PMN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PMN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PMN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 71.12 | OVERBOUGHT | The high RSI value suggests PMN may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.12 | POSITIVE | The MACD value suggests PMN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 58.77 | NEUTRAL | The Stochastics value for PMN is a neutral value. |
| Average True Range in percent/ATR (20) | 10.93 | HIGH VOLATILITY | The high ATR as a percentage value for PMN suggests high volalility. |
| Average Directional Index/ADX (14) | 50.22 | POSITIVE | The high ADX value value for PMN suggests a strong trend. |
16.09
-0.07 (-0.43%)
PROMIS NEUROSCIENCES INC / PMN FAQ
What is the technical rating for PMN stock?
ChartMill assigns a technical rating of 8 / 10 to PMN.
Can you provide the trend direction for PROMIS NEUROSCIENCES INC?
The current trend direction for PROMIS NEUROSCIENCES INC (PMN) is Bullish.
What is the RSI signal for PMN stock?
PROMIS NEUROSCIENCES INC (PMN) has an RSI value of 71.1174. This indicates that the stock is currently overbought.
What is the short term momentum for PMN stock?
The short term momentum for PROMIS NEUROSCIENCES INC (PMN) is positive.
What is the buy/sell signal for PMN stock?
The buy/sell signal for PROMIS NEUROSCIENCES INC (PMN) is buy as both the short term and long term trends are positive.