Is can a good day trade

**Canaan Inc. (CAN) does not appear to be a promising candidate for day trading.** Here's why:

1. **Recent Price Volatility and Trading Volume**: On June 28, 2024, Canaan's stock experienced a significant price drop of 19.98% with a trading volume of 129.97 million shares. This high volatility and trading volume suggest that the stock is currently under a lot of selling pressure, which could be indicative of market uncertainty or negative sentiment towards the stock.

|code|国际北美etf@etf code|国际北美etf@etf name|国际北美etf@last-price|国际北美etf@last-change|国际北美etf@Trading Volume[20240628]|国际北美etf@Percentage Change[20240628]|market_code|
|---|---|---|---|---|---|---|---|
|SQQQ|SQQQ.O|ProShares UltraPro Short QQQ|8.2800|1.8450|1.55734439E8|1.845|185|
|SPY|SPY.P|SPDR S&P 500 ETF Trust|544.2200|-0.3935|7.6144535E7|-0.3935|169|
|TSLL|TSLL.O|Direxion Daily TSLA Bull 2X Shares|9.2000|0.4367|5.5997572E7|0.4367|185|
|SOXL|SOXL.P|Direxion Daily Semiconductor Bull 3X Shares|55.3600|2.8996|5.5584636E7|2.8996|169|
|TLT|TLT.O|iShares 20+ Year Treasury Bond ETF|91.7800|-1.8606|5.5119554E7|-1.8606|185|
|TQQQ|TQQQ.O|ProShares UltraPro QQQ|73.8200|-1.5733|5.3901476E7|-1.5733|185|
|SOXS|SOXS.P|Direxion Daily Semiconductor Bear 3X Shares|22.6800|-2.6609|4.6455332E7|-2.6609|169|
|NVD|NVD.O|GraniteShares 2x Short NVDA Daily ETF|2.2100|0.4545|3.598642E7|0.4545|185|
|IWM|IWM.P|iShares Russell 2000 ETF|202.8900|0.4108|3.5025979E7|0.4108|169|
|HYG|HYG.P|iShares iBoxx USD High Yield Corporate Bond ETF|77.1400|-0.2457|3.4951989E7|-0.2457|169|

2. **Moving Averages and Technical Indicators**:
- The stock is currently trading below its 50-day and 20-day moving averages, which is typically considered a bearish signal as it suggests that the stock's short-term and medium-term trends are downward.
- The Bollinger Bands show a relatively tight squeeze, indicating that the stock's price is currently range-bound and not exhibiting significant volatility.
- The stock's resistance level is at $1.11, and the support level is at $0.99, which is quite close, suggesting a narrow trading range.

|code|stock code|stock name|last-price|last-change|Support Level (Narrow)[20240628]|Resistance Level (Narrow)[20240628]|bollinger upper band[20240628]|market_code|
|---|---|---|---|---|---|---|---|---|
|BRK.A|BRK.A.N|Berkshire Hathaway A|612241.0000|-0.4486|612851.0813031984|622949.0996968015|628260.4400|169|
|NVR|NVR.N|NVR|7588.5600|-0.8928|7539.214509625153|7672.848490374845|7743.1371|169|
|BKNG|BKNG.O|Booking Holdings|3961.5000|-1.1947|3802.1608395670846|3977.9291604329146|4070.3795|185|
|SEB|SEB.A|Seaboard|3160.7400|0.9212|3064.6651385586333|3232.9908614413666|3321.5265|170|
|AZO|AZO.N|Autozone|2964.1000|0.2944|2782.705862944862|2958.4491370551386|3050.8863|169|
|WTM|WTM.N|White Mountains Insurance Group|1817.4500|2.7952|1738.2886398662874|1808.3643601337124|1845.2227|169|
|FCNCA|FCNCA.O|First Citizens Bancshares|1683.6100|0.2471|1641.166273326571|1685.2067266734296|1708.3711|185|
|CMG|CMG.N|Chipotle Mexican|62.6500|0.3846|1608.629377491106|3858.088622508894|67.7458|169|
|MELI|MELI.O|Mercadolibre|1643.4000|-1.0530|1573.9812263053195|1660.5697736946804|1706.1135|185|
|MKL|MKL.N|Markel Group|1575.6600|-0.2185|1555.2234123518936|1606.653587648106|1633.7047|169|

3. **Market Sentiment and Analysis**:
- Technical analyses indicate that the stock is in a downtrend, with recent alerts suggesting bearish signals such as falling below key moving averages.
- The stock has been volatile, with recent fluctuations of up to 24.04% in a single day, which could be too unpredictable for day trading, which typically requires more stable and predictable price movements.
- There is a potential upside of 11.7% as indicated by technical analysis lookup, but this should be weighed against the recent negative sentiment and potential legal investigations.
4. **Investigations and Legal Risks**: The stock is under investigation by the Schall Law Firm for potential violations of securities laws. This kind of legal uncertainty can further contribute to market volatility and risk.

In conclusion, given the current technical indicators, recent price volatility, and legal risks, Canaan Inc. does not appear to be a favorable candidate for day trading. It is important to note that day trading decisions should always be based on a comprehensive analysis of technical and fundamental factors, including the stock's liquidity, volatility, and overall market conditions.