SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) Stock Technical Analysis
Canada - TSX Venture Exchange - TSX-V:SGMD - CA79549X1096 - Common Stock
Overall SGMD gets a technical rating of 1 out of 10. SGMD scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
- The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
- 76% of all other stocks performed better in the past year than SGMD.
- SGMD 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.
- In the last month SGMD has a been trading in the 0.15 - 0.22 range, which is quite wide. It is currently trading near the high of this range.
- SGMD is part of the Health Care Equipment & Supplies industry. There are 18 other stocks in this industry, SGMD did better than 52% of them.
The technical rating of SGMD 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
0.17
We found 3 important support areas.
- A support zone ranging from 0.20 to 0.20. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @0.19 from a trend line in the weekly time frame.
- A support zone ranging from 0.17 to 0.17. This zone is formed by a combination of multiple trend lines in the daily time frame.
6 important resistance areas can be observed.
- A resistance zone ranging from 0.21 to 0.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 0.23 to 0.23. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @0.25 from a trend line in the weekly time frame.
- Resistance @0.26 from a horizontal line in the weekly time frame.
- Resistance @0.27 from a trend line in the daily time frame.
- Resistance @0.28 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 SGMD.CA is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SGMD.CA is neutral. |
| ChartMill Relative Strength | 24.52 | NEGATIVE | SGMD.CA has a low relative strength, it was outperformed by 75.48% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SGMD.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of SGMD.CA is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of SGMD.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.76 | NEUTRAL | The RSI value for SGMD.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests SGMD.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 86.67 | OVERBOUGHT | The high Stochastics value suggests SGMD.CA may be overbought. |
| Average True Range in percent/ATR (20) | 6.9 | HIGH VOLATILITY | The high ATR as a percentage value for SGMD.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 20.43 | NEUTRAL | The ADX value for SGMD.CA suggests a possible start of a new trend. |
TSX-V:SGMD (3/20/2024, 7:00:00 PM)
0.21
-0.01 (-2.33%)
SALONA GLOBAL MEDICAL DEVICE / SGMD.CA FAQ
Can you provide the ChartMill technical rating for SALONA GLOBAL MEDICAL DEVICE?
ChartMill assigns a technical rating of 1 / 10 to SGMD.CA.
What is the current trend direction of SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) stock?
The current trend direction for SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) is Bearish.
What is the RSI signal for SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) stock?
SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) has an RSI value of 51.7641. This indicates that the stock is currently neutral.
What is the MACD signal for SGMD stock?
The MACD indicator for SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) has a value of 0.00412097, indicating a bearish trend.
What is the short term momentum for SGMD stock?
The short term momentum for SALONA GLOBAL MEDICAL DEVICE (SGMD.CA) is neutral.