NOVT Technical Analysis - NOVANTA INC

Technical Rating and Analysis

Overall NOVT gets a technical rating of 0 out of 10. 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.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

94% of all other stocks performed better in the past year than NOVT.

NOVT is part of the Electronic Equipment, Instruments & Components industry. There are 124 other stocks in this industry, of which 88% are performing better than NOVT.

NOVT is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

NOVT is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.

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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

NOVT has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

101.83

134.23

3 important resistance areas can be observed.

A resistance zone ranging from 112.87 to 115.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A resistance zone ranging from 117.97 to 118.39. This zone is formed by a combination of multiple trend lines 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	6.48	NEGATIVE	NOVT has a low relative strength, it was outperformed by 93.52% 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)	39.64	NEUTRAL	The RSI value for NOVT is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.56	NEGATIVE	The MACD value suggests NOVT has a negative trend, although the MACD value is rising.
Stochastics (14,3)	18.31	OVERSOLD	The low Stochastics value suggests NOVT may be oversold.
Average True Range in percent/ATR (20)	3.03	MEDIUM VOLATILITY	The ATR as a percentage value for NOVT suggests some volalility.
Average Directional Index/ADX (14)	17.43	NEGATIVE	The low ADX value for NOVT suggests a weak or negative trend.