NASDAQ:NOVT - Nasdaq - CA67000B1040 - Common Stock - Currency: USD
Taking everything into account, NOVT scores 0 out of 10 in our technical rating. NOVT scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, NOVT does present a nice setup opportunity. 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.
116.51
We found 3 important support areas.
When analyzing the resistance we notice 2 important areas.
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. |
127.21
+2.04 (+1.63%)