NOVANTA INC (NOVT) Technical Analysis
NASDAQ:NOVT • CA67000B1040
Current stock price
NOVT Technical Rating and Analysis
Overall NOVT gets a technical rating of 6 out of 10. Although NOVT is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- NOVT is one of the lesser performing stocks in the Electronic Equipment, Instruments & Components industry. 60% of 124 stocks in the same industry do better.
- Both the short term and long term trends are positive. This is a very positive sign.
- In the last month NOVT has a been trading in the 112.51 - 137.48 range, which is quite wide. It is currently trading near the high of this range.
- When comparing the performance of all stocks over the past year, NOVT turns out to be only a medium performer in the overall market: it outperformed 47% of all stocks.
- 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.
NOVT Weekly and Daily overview Charts
NOVT Setup Rating and Analysis
NOVT has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
NOVT Support and Resistance Analysis
110.03
When analyzing the support we can see 2 important areas.
- A support zone ranging from 115.28 to 115.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @111.14 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- Resistance @140.90 from a trend line in the weekly time frame.
- A resistance zone ranging from 146.40 to 146.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
NOVT 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 | UP | POSITIVE | The long term trend for NOVT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NOVT is up. |
| ChartMill Relative Strength | 47.37 | NEUTRAL | NOVT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NOVT is above the rising 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) | UP | POSITIVE | The current price of NOVT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 64.44 | NEUTRAL | The RSI value for NOVT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.56 | POSITIVE | The MACD value suggests NOVT has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 83.38 | OVERBOUGHT | The high Stochastics value suggests NOVT may be overbought. |
| Average True Range in percent/ATR (20) | 3.72 | MEDIUM VOLATILITY | The ATR as a percentage value for NOVT suggests some volalility. |
| Average Directional Index/ADX (14) | 19.48 | NEGATIVE | The low ADX value for NOVT suggests a weak or negative trend. |
NOVT Chart- and CandleStick Pattern Analysis
NOVT Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 140.91 | 123.53 | 17.38 (12.33%) | 8.11% |
| An entry @140.91. This is a Buy Stop order right above the resistance zone. | An exit @123.53. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 17.38 points, which is 12.33%. | For a 1.00% total portfolio risk, you can invest 8.11% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
NOVT Technicals: Chart, Performance Metrics, Trend & Indicators
134.1
+1.08 (+0.81%)
NOVANTA INC / NOVT TA FAQ
What is the technical rating for NOVT stock?
ChartMill assigns a technical rating of 6 / 10 to NOVT.
What is the trend direction for NOVT stock?
The current trend direction for NOVANTA INC (NOVT) is Bullish.
What is the RSI signal for NOVT stock?
NOVANTA INC (NOVT) has an RSI value of 64.4404. This indicates that the stock is currently neutral.
What is the buy/sell signal for NOVT stock?
The buy/sell signal for NOVANTA INC (NOVT) is buy as both the short term and long term trends are positive.
What is the support and resistance level for NOVT stock?
NOVANTA INC (NOVT) has a support level at 115.96 and a resistance level at 140.9. Check the full technical report for our detailed analysis of NOVT support and resistance levels.