NOVT Technical Analysis - NOVANTA INC

Technical Rating and Analysis

Taking everything into account, NOVT scores 0 out of 10 in our technical rating. 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 short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

When comparing the yearly performance of all stocks, NOVT is a bad performer in the overall market: 90% of all stocks are doing better.

NOVT is part of the Electronic Equipment, Instruments & Components industry. There are 125 other stocks in this industry, of which 80% are performing better than NOVT.

NOVT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.

In the last month NOVT has a been trading in the 109.54 - 123.22 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although the technical rating is bad, NOVT does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 113.14, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

109.43

134.23

When analyzing the support we can see 2 important areas.

A support zone ranging from 112.84 to 113.14. This zone is formed by a combination of multiple trend lines in the daily time frame.
Support @110.54 from a horizontal line in the daily time frame.

We can see 3 important resistance areas.

A resistance zone ranging from 115.07 to 124.87. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @127.21 from a horizontal line in the daily time frame.
Resistance @132.90 from a horizontal line in the daily time frame.

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Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The short term trend for NOVT is down.
ChartMill Relative Strength	10.3	NEGATIVE	NOVT has a low relative strength, it was outperformed by 89.7% 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	NEGATIVE	The current price of NOVT is below 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)	44.94	NEUTRAL	The RSI value for NOVT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.21	POSITIVE	The MACD value suggests NOVT has a positive trend, although the MACD value is declining.
Stochastics (14,3)	46.57	NEUTRAL	The Stochastics value for NOVT is a neutral value.
Average True Range in percent/ATR (20)	3.09	MEDIUM VOLATILITY	The ATR as a percentage value for NOVT suggests some volalility.
Average Directional Index/ADX (14)	11.14	NEGATIVE	The low ADX value for NOVT suggests a weak or negative trend.