We assign a technical rating of 10 out of 10 to NG. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NG is showing a nice and steady performance.
Besides having an excellent technical rating, NG also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 10.19. Right above this resistance zone may be a good entry point.
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3 important support areas can be observed.
- Support @9.41 from a trend line in the daily time frame.
- A support zone ranging from 9.19 to 9.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @8.98 from a trend line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 10.19 to 10.20. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @10.52 from a horizontal line in the daily 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 | UP | POSITIVE | The long term trend for NG is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NG is up. |
| ChartMill Relative Strength | 96.89 | POSITIVE | NG has a high relative strength, it outperformed 96.89% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NG is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NG is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NG is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.31 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests NG has a positive trend. |
| Stochastics (14,3) | 74.83 | NEUTRAL | The Stochastics value for NG is a neutral value. |
| Average True Range in percent/ATR (20) | 4.64 | MEDIUM VOLATILITY | The ATR as a percentage value for NG suggests some volalility. |
| Average Directional Index/ADX (14) | 11.92 | NEGATIVE | The low ADX value for NG suggests a weak or negative 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 |
|---|---|---|---|
| 10.21 | 9.40 | 0.81 (7.93%) | 12.60% |
| An entry @10.21. This is a Buy Stop order right above the resistance zone. | An exit @9.40. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.81 points, which is 7.93%. | For a 1.00% total portfolio risk, you can invest 12.60% 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.
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NOVAGOLD RESOURCES INC / NG FAQ
What is the technical rating for NG stock?
ChartMill assigns a technical rating of 10 / 10 to NG.
Can you provide the trend direction for NOVAGOLD RESOURCES INC?
The current trend direction for NOVAGOLD RESOURCES INC (NG) is Bullish.
What is the RSI signal for NOVAGOLD RESOURCES INC (NG) stock?
NOVAGOLD RESOURCES INC (NG) has an RSI value of 58.308. This indicates that the stock is currently neutral.
What is the short term momentum for NG stock?
The short term momentum for NOVAGOLD RESOURCES INC (NG) is positive.
What are the support and resistance levels for NOVAGOLD RESOURCES INC (NG) stock?
NOVAGOLD RESOURCES INC (NG) has a support level at 9.41 and a resistance level at 10.19. Check the full technical report for our detailed analysis of NG support and resistance levels.