NVX Technical Analysis - NOVONIX LTD-ADR

Technical Rating and Analysis

We assign a technical rating of 8 out of 10 to NVX. In the last year, NVX was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.

NVX is one of the better performing stocks in the Electronic Equipment, Instruments & Components industry, it outperforms 84% of 124 stocks in the same industry.

NVX is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month NVX has a been trading in the 1.20 - 3.86 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

NVX has an average volume of 1266730 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When comparing the yearly performance of all stocks, we notice that NVX is one of the better performing stocks in the market, outperforming 96% of all stocks. However, this relatively good performance is mostly due to a recent big move.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

More info and screens

Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

Show peers with best TA rating

Weekly and Daily overview Charts

NOVONIX LTD-ADR / NVX Weekly stock chart

Setup Rating and Analysis

Although NVX has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

More info and screens

ChartMill Technical Ratings

Pocket Pivots

Bull Flags

Show peers with best setup rating

Support and Resistance Analysis

1.19

2.97

2 important support areas can be observed.

Support @1.22 from a horizontal line in the daily time frame.
Support @1.20 from a horizontal line in the daily time frame.

More info

What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

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	NEUTRAL	NEUTRAL	The long term trend for NVX is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for NVX is up.
ChartMill Relative Strength	96.1	POSITIVE	NVX has a high relative strength, it outperformed 96.1% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of NVX is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of NVX is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of NVX is above the rising SMA(200).
Relative Strength Index/RSI (14)	83.08	OVERBOUGHT	The high RSI value suggests NVX may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.15	POSITIVE	The MACD value suggests NVX has a positive trend.
Stochastics (14,3)	70.39	NEUTRAL	The Stochastics value for NVX is a neutral value.
Average True Range in percent/ATR (20)	9.51	HIGH VOLATILITY	The high ATR as a percentage value for NVX suggests high volalility.
Average Directional Index/ADX (14)	30.49	POSITIVE	The high ADX value value for NVX suggests a strong trend.