PARDES BIOSCIENCES INC (PRDS) Stock Technical Analysis
NASDAQ:PRDS - Nasdaq - US69945Q1058 - Common Stock - Currency: USD
Overall PRDS gets a technical rating of 7 out of 10. Although PRDS is a bad performer in the overall market, the technical picture looks good in both the medium and short term time frames.
When comparing the yearly performance of all stocks, PRDS is a bad performer in the overall market: 73% of all stocks are doing better.
The long and short term trends are both positive. This is looking good!
In the last month PRDS has a been trading in the 2.06 - 2.19 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
PRDS is part of the Biotechnology industry. There are 555 other stocks in this industry, PRDS did better than 56% of them.
PRDS is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so PRDS is lagging the market.
Volume is considerably higher in the last couple of days.
Besides having an excellent technical rating, PRDS also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 2.17. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.15, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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.
More info and screens
1.66
2.19
We found 2 important support areas.
- A support zone ranging from 2.08 to 2.15. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1.68 to 1.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 2.17 to 2.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 PRDS is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for PRDS is up. |
| ChartMill Relative Strength | 27.1 | NEGATIVE | PRDS has a low relative strength, it was outperformed by 72.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of PRDS is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of PRDS is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of PRDS is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.03 | OVERBOUGHT | The high RSI value suggests PRDS may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests PRDS has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 86.52 | OVERBOUGHT | The high Stochastics value suggests PRDS may be overbought. |
| Average True Range in percent/ATR (20) | 1.62 | LOW VOLATILITY | The low ATR as a percentage value for PRDS suggests low volalility. |
| Average Directional Index/ADX (14) | 38.15 | POSITIVE | The high ADX value value for PRDS suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
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 |
|---|---|---|---|
| 2.18 | 2.09 | 0.09 (4.13%) | 24.22% |
| An entry @2.18. This is a Buy Stop order right above the resistance zone. | An exit @2.09. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.09 points, which is 4.13%. | For a 1.00% total portfolio risk, you can invest 24.22% 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.
2.16
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg0%
1 Week1.41%
2 Weeks2.86%
1 Month2.37%
3 Month14.29%
6 Month40.26%
12 Month-40%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.03
ATR(20)%1.62%
ATR Inc35.23%
Range Today0.06
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS27.1
Mansfield1.32
10 Day High2.19
10 Day Low2.1
20 Day High2.19
20 Day Low2.06
52 Week High3.67
52 Week Low0.75
CS1 End2.15
CR1 Start2.17
Volume & EV
DER(3)-2.61%
DER(5)-1.17%
Volume2.38M
Volume Incr227.53%
Vol(5)1.50M
Vol(50)660.63K