Global X Cannabis (POTX) Stock Technical Analysis
USA - NASDAQ:POTX - US37954Y1459 - ETF
We assign a technical rating of 0 out of 10 to POTX. POTX scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, POTX does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 5.14, a Stop Loss order could be placed below this zone.
More info and screens
5.05
We found 1 important support area.
- A support zone ranging from 5.10 to 5.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
4 important resistance areas can be observed.
- A resistance zone ranging from 5.17 to 5.22. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 5.49 to 5.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @5.87 from a horizontal line in the weekly time frame.
- 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 POTX is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for POTX is down. |
| ChartMill Relative Strength | 10.72 | NEGATIVE | POTX has a low relative strength, it was outperformed by 89.28% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of POTX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of POTX is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of POTX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 40.07 | NEUTRAL | The RSI value for POTX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests POTX has a positive trend. |
| Stochastics (14,3) | 24.47 | NEUTRAL | The Stochastics value for POTX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.85 | LOW VOLATILITY | The low ATR as a percentage value for POTX suggests low volalility. |
| Average Directional Index/ADX (14) | 28.9 | POSITIVE | The high ADX value value for POTX suggests a strong trend. |
5.16
+0.05 (+0.98%)
Global X Cannabis / POTX FAQ
Can you provide the ChartMill technical rating for Global X Cannabis?
ChartMill assigns a technical rating of 0 / 10 to POTX.
What is the current trend direction of Global X Cannabis (POTX) stock?
The current trend direction for Global X Cannabis (POTX) is Bearish.
Can you provide the RSI signal for Global X Cannabis?
Global X Cannabis (POTX) has an RSI value of 40.0731. This indicates that the stock is currently neutral.
What is the short term momentum for Global X Cannabis (POTX) stock?
The short term momentum for Global X Cannabis (POTX) is negative.
What are the support and resistance levels for Global X Cannabis (POTX) stock?
Global X Cannabis (POTX) has a support level at 5.14 and a resistance level at 5.17. Check the full technical report for our detailed analysis of POTX support and resistance levels.