SPRB Technical Analysis - SPRUCE BIOSCIENCES INC

Technical Rating and Analysis

Overall SPRB gets a technical rating of 9 out of 10. Both in the recent history as in the last year, SPRB has proven to be a steady performer, scoring decent points in every aspect analyzed.

Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.

The long and short term trends are both positive. This is looking good!

SPRB is part of the Biotechnology industry. There are 536 other stocks in this industry. SPRB outperforms 99% of them.

SPRB is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SPRB is lagging the market slightly.

In the last month SPRB has a been trading in the 0.08 - 11.64 range, which is quite wide. It is currently trading near the high of this range.

SPRB has an average volume of 1450570 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the yearly performance of all stocks, we notice that SPRB is one of the better performing stocks in the market, outperforming 99% of all stocks. However, this relatively good performance is mostly due to a recent big move.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

SPRUCE BIOSCIENCES INC / SPRB Weekly stock chart

SPRUCE BIOSCIENCES INC / SPRB Daily stock chart

Setup Rating and Analysis

Although SPRB has an excellent technical rating, it does not offer a high 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

7.66

9.91

We found 1 important support area.

A support zone ranging from 7.74 to 7.74. This zone is formed by a combination of multiple trend lines in multiple time frames.

We found 1 important resistance area.

Resistance @9.81 from a horizontal line in the daily 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	UP	POSITIVE	The long term trend for SPRB is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for SPRB is up.
ChartMill Relative Strength	99.86	POSITIVE	SPRB has a high relative strength, it outperformed 99.86% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of SPRB is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of SPRB is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of SPRB is above the rising SMA(200).
Relative Strength Index/RSI (14)	69.45	NEUTRAL	The RSI value for SPRB is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.06	NEGATIVE	The MACD value suggests SPRB has a negative trend.
Stochastics (14,3)	53.32	NEUTRAL	The Stochastics value for SPRB is a neutral value.
Average True Range in percent/ATR (20)	14.66	HIGH VOLATILITY	The high ATR as a percentage value for SPRB suggests high volalility.
Average Directional Index/ADX (14)	67.28	POSITIVE	The high ADX value value for SPRB suggests a strong trend.