NOVAGOLD RESOURCES INC (NG) Stock Technical Analysis
NYSEARCA:NG • CA66987E2069
Overall NG gets a technical rating of 10 out of 10. 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.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, NG did better than 98% of all other stocks. On top of that, NG also shows a nice and consistent pattern of rising prices.
- NG is part of the Metals & Mining industry. There are 157 other stocks in this industry. NG outperforms 84% of them.
- NG is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so NG is performing more or less in line with the market.
- In the last month NG has a been trading in the 8.22 - 14.40 range, which is quite wide. It is currently trading near the high of this range.
- Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
- NG has an average volume of 3902330 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although NG has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
8.13
5 important support areas can be observed.
- Support @9.44 from a trend line in the weekly time frame.
- Support @8.96 from a trend line in the weekly time frame.
- Support @8.80 from a trend line in the daily time frame.
- Support @8.46 from a trend line in the daily time frame.
- Support @8.21 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 | 98.19 | POSITIVE | NG has a high relative strength, it outperformed 98.19% 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) | 59.05 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.3 | POSITIVE | The MACD value suggests NG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.37 | OVERBOUGHT | The high Stochastics value suggests NG may be overbought. |
| Average True Range in percent/ATR (20) | 7.77 | HIGH VOLATILITY | The high ATR as a percentage value for NG suggests high volalility. |
| Average Directional Index/ADX (14) | 29.59 | POSITIVE | The high ADX value value for NG suggests a strong trend. |
12.72
-1.48 (-10.42%)
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 59.0463. 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 9.44. Check the full technical report for our detailed analysis of NG support and resistance levels.