NOVANTA INC (NOVT) Stock Technical Analysis
NASDAQ:NOVT - Nasdaq - CA67000B1040 - Common Stock - Currency: USD
Taking everything into account, NOVT scores 1 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.
When comparing the yearly performance of all stocks, NOVT is a bad performer in the overall market: 83% 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 75% are performing better than NOVT.
In the last month NOVT has a been trading in the 118.22 - 131.79 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
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.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, NOVT does present a nice setup opportunity. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 120.92, a Stop Loss order could be placed below this zone.
More info and screens
118.93
137.49
When analyzing the support we notice one important area.
- A support zone ranging from 120.13 to 120.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 3 important resistance areas.
- A resistance zone ranging from 126.41 to 127.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 131.18 to 132.91. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @136.13 from a trend 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 | DOWN | NEGATIVE | The long term trend for NOVT is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NOVT is up. |
| ChartMill Relative Strength | 17.29 | NEGATIVE | NOVT has a low relative strength, it was outperformed by 82.71% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of NOVT is above 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) | 51.59 | NEUTRAL | The RSI value for NOVT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.19 | POSITIVE | The MACD value suggests NOVT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 74.82 | NEUTRAL | The Stochastics value for NOVT is a neutral value. |
| Average True Range in percent/ATR (20) | 2.44 | MEDIUM VOLATILITY | The ATR as a percentage value for NOVT suggests some volalility. |
| Average Directional Index/ADX (14) | 12.7 | 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)
126.08
-1.68 (-1.31%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorInformation Technology
GICS IndustryElectronic Equipment, Instruments & Components
Performance
% Chg-1.31%
1 Week-0.2%
2 Weeks1.42%
1 Month-4.06%
3 Month-7.34%
6 Month-24.14%
12 Month-21.82%
2 Year-31.52%
3 Year3.97%
5 Year18.09%
10 YearN/A
15 YearN/A
Volatility
ATR(14)2.98
ATR(20)%2.44%
ATR Inc10.6%
Range Today1.89
ADR(20)2.72
ADR(20)%2.16%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS17.29
Mansfield-2.21
10 Day High131.35
10 Day Low120.94
20 Day High131.79
20 Day Low118.22
52 Week High187.12
52 Week Low98.76
CS1 End120.92
CR1 Start126.41
Volume & EV
DER(3)-0.79%
DER(5)-0.67%
Volume249.40K
Volume Incr-28.65%
Vol(5)189.68K
Vol(50)337.55K