WKSP Technical Analysis - WORKSPORT LTD

Technical Rating and Analysis

Overall WKSP gets a technical rating of 0 out of 10. WKSP's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

83% of all other stocks performed better in the past year than WKSP.

WKSP is part of the Automobile Components industry. There are 81 other stocks in this industry, of which 86% are performing better than WKSP.

WKSP is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month WKSP has a been trading in the 3.01 - 4.30 range, which is quite wide. It is currently trading near the lows of this range.

Prices have been falling strongly lately, it is better to avoid new long positions here.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

WKSP has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 3.32. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.64

5.43

We found 3 important support areas.

Support @3.06 from a trend line in the daily time frame.
Support @2.92 from a horizontal line in the daily time frame.
Support @2.67 from a horizontal line in the weekly time frame.

4 important resistance areas can be observed.

A resistance zone ranging from 3.32 to 3.43. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 3.54 to 3.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @3.78 from a horizontal line in the daily time frame.
Resistance @5.38 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	DOWN	NEGATIVE	The long term trend for WKSP is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for WKSP is down.
ChartMill Relative Strength	17.02	NEGATIVE	WKSP has a low relative strength, it was outperformed by 82.98% off all stocks on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of WKSP is below a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of WKSP is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of WKSP is below a declining SMA(200).
Relative Strength Index/RSI (14)	42.68	NEUTRAL	The RSI value for WKSP is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.03	NEGATIVE	The MACD value suggests WKSP has a negative trend.
Stochastics (14,3)	13.13	OVERSOLD	The low Stochastics value suggests WKSP may be oversold.
Average True Range in percent/ATR (20)	10.7	HIGH VOLATILITY	The high ATR as a percentage value for WKSP suggests high volalility.
Average Directional Index/ADX (14)	30.35	POSITIVE	The high ADX value value for WKSP suggests a strong trend.