NOVANTA INC (NOVT) Stock Technical Analysis
NASDAQ:NOVT - Nasdaq - CA67000B1040 - Common Stock - Currency: USD
Overall NOVT gets a technical rating of 0 out of 10. NOVT's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, NOVT is a bad performer in the overall market: 87% of all stocks are doing better.
NOVT is one of the lesser performing stocks in the Electronic Equipment, Instruments & Components industry. 75% of 125 stocks in the same industry do better.
NOVT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so NOVT is lagging the market.
In the last month NOVT has a been trading in the 122.05 - 135.26 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
NOVT has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 128.27. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 127.04, a Stop Loss order could be placed below this zone.
More info and screens
116.51
135.12
When analyzing the support we can see 3 important areas.
- A support zone ranging from 122.66 to 127.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @120.13 from a horizontal line in the daily time frame.
- Support @117.69 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 128.27 to 130.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 132.90 to 133.78. 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 | DOWN | NEGATIVE | The long term trend for NOVT is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for NOVT is neutral. |
| ChartMill Relative Strength | 13.86 | NEGATIVE | NOVT has a low relative strength, it was outperformed by 86.14% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of NOVT is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of NOVT is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of NOVT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.13 | NEUTRAL | The RSI value for NOVT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.4 | NEGATIVE | The MACD value suggests NOVT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 32.43 | NEUTRAL | The Stochastics value for NOVT is a neutral value. |
| Average True Range in percent/ATR (20) | 3 | MEDIUM VOLATILITY | The ATR as a percentage value for NOVT suggests some volalility. |
| Average Directional Index/ADX (14) | 14.67 | NEGATIVE | The low ADX value for NOVT 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)
127.21
+2.04 (+1.63%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryElectronic Equipment, Instruments & Components
Performance
% Chg1.63%
1 Week3.46%
2 Weeks-3.37%
1 Month-0.19%
3 Month6.24%
6 Month-14.54%
12 Month-31.3%
2 Year-28.09%
3 Year-17.5%
5 Year22.69%
10 YearN/A
15 YearN/A
Volatility
ATR(14)3.65
ATR(20)%3%
ATR Inc-32.07%
Range Today2.65
ADR(20)3.7
ADR(20)%2.91%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS13.86
Mansfield-2.2
10 Day High131.25
10 Day Low122.05
20 Day High135.26
20 Day Low122.05
52 Week High186.75
52 Week Low98.76
CS1 End127.04
CR1 Start128.27
Volume & EV
DER(3)0.79%
DER(5)0.54%
Volume170.00K
Volume Incr-23.33%
Vol(5)204.30K
Vol(50)243.62K