NOVAGOLD RESOURCES INC (NG) Stock Technical Analysis
NYSEARCA:NG • CA66987E2069
Overall NG gets a technical rating of 8 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that NG is one of the better performing stocks in the market, outperforming 98% of all stocks. We also observe that the gains produced by NG over the past year are nicely spread over this period.
- NG is one of the better performing stocks in the Metals & Mining industry, it outperforms 82% of 157 stocks in the same industry.
- NG is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NG is lagging the market slightly.
- 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 3571460 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Volume is considerably higher in the last couple of days.
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
4 important support areas can be observed.
- A support zone ranging from 9.91 to 10.16. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @8.72 from a horizontal line in the weekly time frame.
- Support @8.45 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 10.18 to 10.20. 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 | 98.08 | POSITIVE | NG has a high relative strength, it outperformed 98.08% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of NG is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of NG is above a declining 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) | 51.27 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.09 | POSITIVE | The MACD value suggests NG has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 66.49 | NEUTRAL | The Stochastics value for NG is a neutral value. |
| Average True Range in percent/ATR (20) | 10.2 | HIGH VOLATILITY | The high ATR as a percentage value for NG suggests high volalility. |
| Average Directional Index/ADX (14) | 18.54 | NEGATIVE | The low ADX value for NG suggests a weak or negative trend. |
10.17
-1.6 (-13.59%)
NOVAGOLD RESOURCES INC / NG FAQ
What is the technical rating for NG stock?
ChartMill assigns a technical rating of 8 / 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 51.2654. 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 10.16 and a resistance level at 10.18. Check the full technical report for our detailed analysis of NG support and resistance levels.