NORTHERN GENESIS ACQUISITI-A (NGC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NGC - US66516W1071 - Common Stock
Taking everything into account, NGC scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, NGC has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, NGC also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 10.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.15, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
9.56
When analyzing the support we can see 2 important areas.
- A support zone ranging from 10.10 to 10.15. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 9.66 to 9.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 10.16 to 10.18. This zone is formed by a combination of multiple trend lines and important moving averages 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 NGC is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NGC is up. |
| ChartMill Relative Strength | 77.31 | POSITIVE | NGC has a high relative strength, it outperformed 77.31% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NGC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NGC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NGC is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.37 | NEUTRAL | The RSI value for NGC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests NGC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 44.44 | NEUTRAL | The Stochastics value for NGC is a neutral value. |
| Average True Range in percent/ATR (20) | 0.14 | LOW VOLATILITY | The low ATR as a percentage value for NGC suggests low volalility. |
| Average Directional Index/ADX (14) | 43.87 | POSITIVE | The high ADX value value for NGC suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 10.17 | 10.13 | 0.04 (0.40%) | 25.00% |
| An entry @10.17. This is a Buy Stop order right above the 10 day moving average. | An exit @10.13. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.04 points, which is 0.40%. | For a 0.10% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NYSE:NGC (3/24/2023, 8:04:01 PM)
10.16
+0.01 (+0.1%)
NORTHERN GENESIS ACQUISITI-A / NGC FAQ
What is the ChartMill technical rating of NORTHERN GENESIS ACQUISITI-A (NGC) stock?
ChartMill assigns a technical rating of 9 / 10 to NGC.
What is the current trend direction of NORTHERN GENESIS ACQUISITI-A (NGC) stock?
The current trend direction for NORTHERN GENESIS ACQUISITI-A (NGC) is Bullish.
What is the RSI signal for NORTHERN GENESIS ACQUISITI-A (NGC) stock?
NORTHERN GENESIS ACQUISITI-A (NGC) has an RSI value of 64.369. This indicates that the stock is currently neutral.
What is the buy/sell signal for NGC stock?
The buy/sell signal for NORTHERN GENESIS ACQUISITI-A (NGC) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for NORTHERN GENESIS ACQUISITI-A?
NORTHERN GENESIS ACQUISITI-A (NGC) has a support level at 10.15 and a resistance level at 10.16. Check the full technical report for our detailed analysis of NGC support and resistance levels.