COVALON TECHNOLOGIES LTD (COV.CA) Stock Technical Analysis
TSX-V:COV - TSX Venture Exchange - CA22282D3022 - Common Stock - Currency: CAD
We assign a technical rating of 4 out of 10 to COV. Although COV is scoring some points because its good overall performance in the market in the past year, 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.
In the last month COV has a been trading in the 2.18 - 2.76 range, which is quite wide. It is currently trading near the lows of this range.
Prices have been consolidating recently, but much resistance may still be present above.
Warning: COV has an average volume of 28105 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
When comparing the yearly performance of all stocks, we notice that COV is one of the better performing stocks in the market, outperforming 89% of all stocks.
COV is one of the better performing stocks in the Biotechnology industry, it outperforms 90% of 22 stocks in the same industry.
COV is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.
Considerably lower volume is observed in the last couple of days.
COV has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. We notice that large players showed an interest for COV 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.
More info and screens
2.24
2.64
When analyzing the support we notice one important area.
- Support @2.26 from a horizontal line in the weekly time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 2.31 to 2.32. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 2.45 to 2.47. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 2.55 to 2.56. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.61 from a horizontal line in the daily time frame.
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.81
Mansfield-1.16
10 Day High2.4
10 Day Low2.24
20 Day High2.76
20 Day Low2.18
52 Week High4.3
52 Week Low1
Performance
1 Week0.43%
2 Weeks-1.28%
1 Month2.67%
3 Month-26.2%
6 Month-26.2%
12 Month100.87%
2 Year15.5%
3 Year16.67%
5 Year26.92%
10 Year100.87%
15 Year1055%
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)0.01
RSI(14)47.02
LBB2.24
UBB2.39
TSX-V:COV (4/25/2025, 7:00:00 PM)
2.31
+0.02 (+0.65%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg0.65%
1 Week0.43%
2 Weeks-1.28%
1 Month2.67%
3 Month-26.2%
6 Month-26.2%
12 Month100.87%
2 Year15.5%
3 Year16.67%
5 Year26.92%
10 Year100.87%
15 Year1055%
Volatility
ATR(14)0.09
ATR(20)%4.47%
ATR Inc-34%
Range Today0.03
ADR(20)0.09
ADR(20)%3.92%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS89.81
Mansfield-1.16
10 Day High2.4
10 Day Low2.24
20 Day High2.76
20 Day Low2.18
52 Week High4.3
52 Week Low1
CS1 End2.26
CR1 Start2.31
Volume & EV
DER(3)18.02%
DER(5)10.95%
Volume401
Volume Incr-17.54%
Vol(5)17.26K
Vol(50)28.11K