SLEEP COUNTRY CANADA HOLDING (ZZZ.CA) Stock Technical Analysis
TSX:ZZZ - Toronto Stock Exchange - CA83125J1049 - Common Stock - Currency: CAD
Taking everything into account, ZZZ scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, ZZZ has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, ZZZ also presents a decent setup pattern. 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 35.05. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 34.96, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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24.59
When analyzing the support we can see 3 important areas.
- A support zone ranging from 34.75 to 34.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @26.83 from a trend line in the weekly time frame.
- A support zone ranging from 24.84 to 25.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 35.05 to 35.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 ZZZ.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ZZZ.CA is up. |
| ChartMill Relative Strength | 91.54 | POSITIVE | ZZZ.CA has a high relative strength, it outperformed 91.54% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ZZZ.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ZZZ.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ZZZ.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.53 | OVERBOUGHT | The high RSI value suggests ZZZ.CA may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.07 | NEGATIVE | The MACD value suggests ZZZ.CA has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 75.42 | NEUTRAL | The Stochastics value for ZZZ.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 0.19 | LOW VOLATILITY | The low ATR as a percentage value for ZZZ.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 59.62 | POSITIVE | The high ADX value value for ZZZ.CA suggests a strong 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 |
|---|---|---|---|
| 35.10 | 34.89 | 0.21 (0.60%) | 25.00% |
| An entry @35.10. This is a Buy Stop order right above the resistance zone. | An exit @34.89. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.21 points, which is 0.60%. | For a 0.15% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
TSX:ZZZ (10/2/2024, 7:00:00 PM)
34.99
0 (0%)