Viemed Healthcare Inc (VMD.CA) Stock Technical Analysis
TSX:VMD - Toronto Stock Exchange - CA92663R1055 - Common Stock - Currency: CAD
Overall VMD gets a technical rating of 4 out of 10. VMD has been an average performer in the overall market. Also recent evolutions are not that positive: both the medium and short term time frames give negative signs.
Although the technical rating is only medium, VMD does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 10.92. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for VMD in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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8.64
When analyzing the support we can see 3 important areas.
- A support zone ranging from 10.17 to 10.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.89 to 9.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @8.73 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 10.92 to 11.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @11.42 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 | NEUTRAL | NEUTRAL | The long term trend for VMD.CA is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for VMD.CA is neutral. |
| ChartMill Relative Strength | 67.76 | NEUTRAL | VMD.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of VMD.CA is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of VMD.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of VMD.CA is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.63 | NEUTRAL | The RSI value for VMD.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests VMD.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 37.99 | NEUTRAL | The Stochastics value for VMD.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 4.56 | MEDIUM VOLATILITY | The ATR as a percentage value for VMD.CA suggests some volalility. |
| Average Directional Index/ADX (14) | 25.75 | POSITIVE | The high ADX value value for VMD.CA suggests a strong trend. |
TSX:VMD (12/21/2023, 7:00:00 PM)
10.45
+0.29 (+2.85%)