SMMT Technical Analysis - SUMMIT THERAPEUTICS INC

Technical Rating and Analysis

We assign a technical rating of 0 out of 10 to SMMT. SMMT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

88% of all other stocks performed better in the past year than SMMT.

SMMT 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 SMMT has a been trading in the 16.31 - 30.05 range, which is quite wide. It is currently trading near the lows of this range.

SMMT has an average volume of 3919640 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

The long term trend is neutral, but the short term trend is negative. Better to stay away from this!

SMMT is part of the Biotechnology industry. There are 538 other stocks in this industry, SMMT did better than 40% of them.

Volume is considerably higher in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

SUMMIT THERAPEUTICS INC / SMMT Weekly stock chart

SUMMIT THERAPEUTICS INC / SMMT Daily stock chart

Setup Rating and Analysis

SMMT has a poor technical rating and the quality of the setup is also not perfect 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

16.81

28.37

When analyzing the support we can see 3 important areas.

A support zone ranging from 17.67 to 17.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @17.36 from a horizontal line in the weekly time frame.
Support @16.98 from a horizontal line in the daily time frame.

We can see 4 important resistance areas.

Resistance @19.23 from a horizontal line in the daily time frame.
Resistance @24.49 from a trend line in the daily time frame.
Resistance @25.79 from a trend line in the daily time frame.
Resistance @28.09 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

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	NEUTRAL	NEUTRAL	The long term trend for SMMT is neutral.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for SMMT is down.
ChartMill Relative Strength	12.4	NEGATIVE	SMMT has a low relative strength, it was outperformed by 87.6% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of SMMT is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of SMMT is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	MIXED	The current price of SMMT is below the rising SMA(200).
Relative Strength Index/RSI (14)	36.77	NEUTRAL	The RSI value for SMMT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.22	NEGATIVE	The MACD value suggests SMMT has a negative trend, although the MACD value is rising.
Stochastics (14,3)	23.93	NEUTRAL	The Stochastics value for SMMT is a neutral value.
Average True Range in percent/ATR (20)	9.11	HIGH VOLATILITY	The high ATR as a percentage value for SMMT suggests high volalility.
Average Directional Index/ADX (14)	18.03	NEGATIVE	The low ADX value for SMMT suggests a weak or negative trend.