PROSHARES ULTRASHORT BITCOIN (SBIT) Stock Technical Analysis
NYSEARCA:SBIT - NYSE Arca - US74349Y5630 - ETF - Currency: USD
Overall SBIT gets a technical rating of 0 out of 10. SBIT's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
When comparing the yearly performance of all stocks, SBIT is a bad performer in the overall market: 99% of all stocks are doing better.
SBIT is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.
SBIT is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
SBIT has an average volume of 5051990 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Considerably lower volume is observed in the last couple of days.
The technical rating of SBIT is bad and it also does not present a 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
27.46
35.47
We can see 3 important resistance areas.
- A resistance zone ranging from 28.71 to 29.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @30.27 from a trend line in the daily time frame.
- Resistance @35.12 from a trend 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 SBIT is down. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for SBIT is down. |
| ChartMill Relative Strength | 1.47 | NEGATIVE | SBIT has a low relative strength, it was outperformed by 98.53% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of SBIT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SBIT is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SBIT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 34.77 | NEUTRAL | The RSI value for SBIT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.18 | NEGATIVE | The MACD value suggests SBIT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 21.06 | NEUTRAL | The Stochastics value for SBIT is a neutral value. |
| Average True Range in percent/ATR (20) | 5.71 | HIGH VOLATILITY | The high ATR as a percentage value for SBIT suggests high volalility. |
| Average Directional Index/ADX (14) | 20.93 | NEUTRAL | The ADX value for SBIT suggests a possible start of a new 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)
27.74
-1.27 (-4.38%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-4.38%
1 Week-5%
2 Weeks-17.83%
1 Month-26.46%
3 Month-39.03%
6 Month-38.42%
12 Month-83.19%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)1.69
ATR(20)%5.71%
ATR Inc-7.27%
Range Today1.34
ADR(20)1.17
ADR(20)%4.21%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS1.47
Mansfield-6.95
10 Day High33.96
10 Day Low26.52
20 Day High36.55
20 Day Low26.52
52 Week High275.5
52 Week Low26.52
CS1 EndN/A
CR1 Start28.71
Volume & EV
DER(3)1.39%
DER(5)0.51%
Volume2.55M
Volume Incr45.62%
Vol(5)1.79M
Vol(50)5.05M