WORKSPORT LTD (WKSP) Stock Technical Analysis
USA - NASDAQ:WKSP - US98139Q3083 - Common Stock
Overall WKSP gets a technical rating of 3 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. WKSP was also a bad performer in the overall market in the last year.
WKSP has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 3.38, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WKSP 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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2.89
We found 3 important support areas.
- A support zone ranging from 3.32 to 3.38. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 3.06 to 3.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @2.92 from a horizontal line in the daily time frame.
We can see 4 important resistance areas.
- Resistance @3.54 from a horizontal line in the weekly time frame.
- Resistance @3.63 from a trend line in the daily time frame.
- A resistance zone ranging from 3.78 to 3.82. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Resistance @5.89 from a trend 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 | DOWN | NEGATIVE | The long term trend for WKSP is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WKSP is neutral. |
| ChartMill Relative Strength | 7.23 | NEGATIVE | WKSP has a low relative strength, it was outperformed by 92.77% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of WKSP is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WKSP is above the rising 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) | 51 | NEUTRAL | The RSI value for WKSP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests WKSP has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 32.6 | NEUTRAL | The Stochastics value for WKSP is a neutral value. |
| Average True Range in percent/ATR (20) | 9.4 | HIGH VOLATILITY | The high ATR as a percentage value for WKSP suggests high volalility. |
| Average Directional Index/ADX (14) | 19.57 | NEGATIVE | The low ADX value for WKSP suggests a weak or negative trend. |
3.4
+0.1 (+3.03%)
WORKSPORT LTD / WKSP FAQ
What is the ChartMill technical rating of WORKSPORT LTD (WKSP) stock?
ChartMill assigns a technical rating of 3 / 10 to WKSP.
Can you provide the trend direction for WORKSPORT LTD?
The current trend direction for WORKSPORT LTD (WKSP) is Bearish.
What is the RSI signal for WORKSPORT LTD (WKSP) stock?
WORKSPORT LTD (WKSP) has an RSI value of 51.0004. This indicates that the stock is currently neutral.
What is the short term momentum for WKSP stock?
The short term momentum for WORKSPORT LTD (WKSP) is neutral.
What is the support and resistance level for WKSP stock?
WORKSPORT LTD (WKSP) has a support level at 3.38 and a resistance level at 3.54. Check the full technical report for our detailed analysis of WKSP support and resistance levels.