NEW HORIZON AIRCRAFT LTD (HOVR) Technical Analysis
NASDAQ:HOVR • CA64550A1075
We assign a technical rating of 5 out of 10 to HOVR. In the past year, HOVR was one of the better performing stocks in the market. The medium term picture became unclear, although we see some improvement happening in recent action.
- HOVR is one of the better performing stocks in the Aerospace & Defense industry, it outperforms 96% of 78 stocks in the same industry.
- The long and short term trends are both neutral. This gives a pretty neutral overall picture!
- Looking at the yearly performance, HOVR did better than 98% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
- HOVR is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so HOVR is lagging the market.
- In the last month HOVR has a been trading in the 1.69 - 2.07 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
- Considerably lower volume is observed in the last couple of days.
HOVR has only a medium 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 a resistance zone just above the current price starting at 1.92. Right above this resistance zone may be a good entry point.
More info and screens
1.38
We found 4 important support areas.
- A support zone ranging from 1.89 to 1.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.76 from a horizontal line in the weekly time frame.
- A support zone ranging from 1.70 to 1.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @1.39 from a trend line in the daily time frame.
3 important resistance areas can be observed.
- A resistance zone ranging from 1.92 to 1.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.05 from a horizontal line in the daily time frame.
- Resistance @2.13 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 | NEUTRAL | NEUTRAL | The long term trend for HOVR is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for HOVR is neutral. |
| ChartMill Relative Strength | 98.14 | POSITIVE | HOVR has a high relative strength, it outperformed 98.14% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HOVR is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of HOVR is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of HOVR is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.09 | NEUTRAL | The RSI value for HOVR is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests HOVR has a positive trend. |
| Stochastics (14,3) | 46.67 | NEUTRAL | The Stochastics value for HOVR is a neutral value. |
| Average True Range in percent/ATR (20) | 7.76 | HIGH VOLATILITY | The high ATR as a percentage value for HOVR suggests high volalility. |
| Average Directional Index/ADX (14) | 10.72 | NEGATIVE | The low ADX value for HOVR suggests a weak or negative trend. |
HOVR Technicals: Chart, Performance Metrics, Trend & Indicators
1.92
+0.05 (+2.67%)
NEW HORIZON AIRCRAFT LTD / HOVR FAQ
What is the technical rating for HOVR stock?
ChartMill assigns a technical rating of 5 / 10 to HOVR.
What is the trend direction for HOVR stock?
The current trend direction for NEW HORIZON AIRCRAFT LTD (HOVR) is Bearish.
What is the RSI signal for HOVR stock?
NEW HORIZON AIRCRAFT LTD (HOVR) has an RSI value of 50.0947. This indicates that the stock is currently neutral.
What are the support and resistance levels for NEW HORIZON AIRCRAFT LTD (HOVR) stock?
NEW HORIZON AIRCRAFT LTD (HOVR) has a support level at 1.92 and a resistance level at 1.92. Check the full technical report for our detailed analysis of HOVR support and resistance levels.