THERATECHNOLOGIES INC (THTX) Stock Technical Analysis
NASDAQ:THTX - Nasdaq - CA88338H7040 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to THTX. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
Besides having an excellent technical rating, THTX also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 2.66. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 2.52, a Stop Loss order could be placed below this zone.
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1.20
5 important support areas can be observed.
- A support zone ranging from 2.52 to 2.52. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.63 from a trend line in the weekly time frame.
- Support @1.52 from a trend line in the weekly time frame.
- Support @1.40 from a trend line in the daily time frame.
- Support @1.21 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @2.66 from a horizontal line in the daily time frame.
- Resistance @2.78 from a horizontal line in the weekly 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 | UP | POSITIVE | The long term trend for THTX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for THTX is neutral. |
| ChartMill Relative Strength | 96.65 | POSITIVE | THTX has a high relative strength, it outperformed 96.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of THTX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of THTX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of THTX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 46.39 | NEUTRAL | The RSI value for THTX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests THTX has a negative trend. |
| Stochastics (14,3) | 14.79 | OVERSOLD | The low Stochastics value suggests THTX may be oversold. |
| Average True Range in percent/ATR (20) | 3.34 | MEDIUM VOLATILITY | The ATR as a percentage value for THTX suggests some volalility. |
| Average Directional Index/ADX (14) | 13.1 | NEGATIVE | The low ADX value for THTX suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 2.61 | 2.52 | 0.09 (3.30%) | 25.00% |
| An entry @2.61. This is a Buy Stop order right above the 10 day moving average. | An exit @2.52. 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 3.30%. | For a 0.83% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of THTX. Please evaluate whether better entry and exit points can be found.
- 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.
2.53
-0.02 (-0.78%)