NOVAGOLD RESOURCES INC (NG) Technical Analysis
NYSEARCA:NG • CA66987E2069
Current stock price
10.94 USD
+0.81 (+8%)
At close:
10.95 USD
+0.01 (+0.09%)
After Hours:
NG Technical Rating and Analysis
Taking everything into account, NG scores 10 out of 10 in our technical rating. 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.
- Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
- The long and short term trends are both positive. This is looking good!
- When comparing the yearly performance of all stocks, we notice that NG is one of the better performing stocks in the market, outperforming 96% of all stocks. On top of that, NG also shows a nice and consistent pattern of rising prices.
- NG is one of the better performing stocks in the Metals & Mining industry, it outperforms 89% of 160 stocks in the same industry.
- In the last month NG has a been trading in the 7.50 - 10.29 range, which is quite wide. It is currently trading near the high of this range.
- NG has an average volume of 3922860 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- NG is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so NG is lagging the market.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
NG Weekly and Daily overview Charts
NG Setup Rating and Analysis
Although NG has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
NG Support and Resistance Analysis
7.63
11.05
When analyzing the support we can see 5 important areas.
- A support zone ranging from 10.12 to 10.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 8.87 to 8.90. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @8.16 from a trend line in the weekly time frame.
- Support @7.95 from a trend line in the daily time frame.
- Support @7.71 from a horizontal line in the daily time frame.
NG Technical Indicator Signal Analysis
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 | 96.56 | POSITIVE | NG has a high relative strength, it outperformed 96.56% 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) | 56.07 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.24 | POSITIVE | The MACD value suggests NG has a positive trend. |
| Stochastics (14,3) | 93.58 | OVERBOUGHT | The high Stochastics value suggests NG may be overbought. |
| Average True Range in percent/ATR (20) | 5.95 | HIGH VOLATILITY | The high ATR as a percentage value for NG suggests high volalility. |
| Average Directional Index/ADX (14) | 14.33 | NEGATIVE | The low ADX value for NG suggests a weak or negative trend. |
NG Chart- and CandleStick Pattern Analysis
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
NG Technicals: Chart, Performance Metrics, Trend & Indicators
10.94
+0.81 (+8%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg8%
1 Week8.46%
2 Weeks8.23%
1 Month18.48%
3 Month1.3%
6 Month6.07%
12 Month239.93%
2 Year249.31%
3 Year86.21%
5 Year12.68%
10 Year56.09%
15 Year-21.17%
Volatility
ATR(14)0.58
ATR(20)%5.95%
ATR Inc-41.27%
Range Today0.82
ADR(20)0.54
ADR(20)%4.95%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS96.56
3 months CRS61.4
6 months CRS64.34
Mansfield2.4
10 Day High10.29
10 Day Low8.5
20 Day High10.29
20 Day Low7.5
52 Week High14.4
52 Week Low3.01
CS1 End8.9
CR1 Start10.14
Volume & EV
DER(3)0.89%
DER(5)2.56%
Volume2.97M
Volume Incr-44.45%
Vol(5)2.35M
Vol(50)3.92M
NOVAGOLD RESOURCES INC / NG TA 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.
Can you provide the RSI signal for NOVAGOLD RESOURCES INC?
NOVAGOLD RESOURCES INC (NG) has an RSI value of 56.0692. This indicates that the stock is currently neutral.
What is the MACD signal for NOVAGOLD RESOURCES INC (NG) stock?
The MACD indicator for NOVAGOLD RESOURCES INC (NG) has a value of 0.241566, indicating a bearish trend.
Can you provide the buy/sell signal for NOVAGOLD RESOURCES INC?
The buy/sell signal for NOVAGOLD RESOURCES INC (NG) is buy as both the short term and long term trends are positive.