NOVAGOLD RESOURCES INC (NG) Technical Analysis
NYSEARCA:NG • CA66987E2069
We assign a technical rating of 10 out of 10 to NG. 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.
- 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. 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 90% of them.
- 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.
- NG has an average volume of 3969550 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month NG has a been trading in the 9.87 - 14.40 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
NG has an excellent technical rating, but the quality of the setup is only medium 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 11.98 to 12.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @9.58 from a trend line in the weekly time frame.
- A support zone ranging from 8.95 to 9.00. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @8.66 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 | 98.17 | POSITIVE | NG has a high relative strength, it outperformed 98.17% 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) | 56.02 | NEUTRAL | The RSI value for NG is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests NG has a negative trend. |
| Stochastics (14,3) | 45.79 | NEUTRAL | The Stochastics value for NG is a neutral value. |
| Average True Range in percent/ATR (20) | 8.18 | HIGH VOLATILITY | The high ATR as a percentage value for NG suggests high volalility. |
| Average Directional Index/ADX (14) | 28.45 | POSITIVE | The high ADX value value for NG suggests a strong trend. |
NG Technicals: Chart, Performance Metrics, Trend & Indicators
12.31
+0.32 (+2.67%)
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 56.0202. 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 12.06. Check the full technical report for our detailed analysis of NG support and resistance levels.