NOVAGOLD RESOURCES INC (NG) Stock Technical Analysis
NYSEARCA:NG • CA66987E2069
Taking everything into account, NG scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, NG has proven to be a steady performer, scoring decent points in every aspect analyzed.
- The long and short term trends are both positive. This is looking good!
- 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 156 other stocks in this industry. NG outperforms 83% of them.
- NG is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month NG has a been trading in the 8.22 - 12.09 range, which is quite wide. It is currently trading near the high of this range.
- NG has an average volume of 3678810 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, the quality of the presented setup is not ideal 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
We found 5 important support areas.
- A support zone ranging from 9.97 to 10.28. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.30 from a trend line in the weekly time frame.
- Support @8.91 from a trend line in the weekly time frame.
- Support @8.66 from a trend line in the daily time frame.
- Support @8.21 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 11.68 to 11.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | 98.28 | POSITIVE | NG has a high relative strength, it outperformed 98.28% 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) | 58.79 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.15 | POSITIVE | The MACD value suggests NG has a positive trend. |
| Stochastics (14,3) | 79.14 | NEUTRAL | The Stochastics value for NG is a neutral value. |
| Average True Range in percent/ATR (20) | 8.87 | HIGH VOLATILITY | The high ATR as a percentage value for NG suggests high volalility. |
| Average Directional Index/ADX (14) | 21.01 | NEUTRAL | The ADX value for NG suggests a possible start of a new trend. |
11.67
+0.67 (+6.09%)
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 58.7945. 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 10.28 and a resistance level at 11.68. Check the full technical report for our detailed analysis of NG support and resistance levels.