NOVAGOLD RESOURCES INC (NG) Stock Technical Analysis
NYSEARCA:NG - NYSE Arca - CA66987E2069 - Common Stock - Currency: USD
Taking everything into account, NG scores 9 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.
Both the short term and long term trends are positive. This is a very positive sign.
NG has an average volume of 5701820 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that NG is one of the better performing stocks in the market, outperforming 87% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
NG is an average performer in the Metals & Mining industry, it outperforms 64% of 154 stocks in the same industry.
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.
In the last month NG has a been trading in the 3.61 - 4.85 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although NG has an excellent technical rating, it does not present a decent entry opportunity 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
2.63
4.75
We found 5 important support areas.
- Support @4.06 from a trend line in the daily time frame.
- Support @3.78 from a trend line in the daily time frame.
- Support @3.69 from a horizontal line in the daily time frame.
- Support @3.57 from a horizontal line in the weekly time frame.
- Support @2.66 from a trend line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 4.41 to 4.51. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @4.70 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 | 87.26 | POSITIVE | NG has a high relative strength, it outperformed 87.26% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of NG is below 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) | 51.4 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests NG has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 51.2 | NEUTRAL | The Stochastics value for NG is a neutral value. |
| Average True Range in percent/ATR (20) | 6.84 | HIGH VOLATILITY | The high ATR as a percentage value for NG suggests high volalility. |
| Average Directional Index/ADX (14) | 19.5 | NEGATIVE | The low ADX value for NG suggests a weak or negative trend. |
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)
4.09
+0.01 (+0.25%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg0.25%
1 Week0.25%
2 Weeks-7.67%
1 Month14.25%
3 Month56.71%
6 Month19.94%
12 Month13.61%
2 Year2.51%
3 Year-14.97%
5 Year-55.45%
10 Year19.59%
15 Year-41.4%
Volatility
ATR(14)0.22
ATR(20)%6.84%
ATR Inc-30.11%
Range Today0.13
ADR(20)0.26
ADR(20)%6.34%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS87.26
Mansfield0.33
10 Day High4.52
10 Day Low3.61
20 Day High4.85
20 Day Low3.61
52 Week High5.06
52 Week Low2.26
CS1 End3.69
CR1 Start4.1
Volume & EV
DER(3)4.74%
DER(5)3.46%
Volume3.15M
Volume Incr24.02%
Vol(5)5.79M
Vol(50)5.70M