NovaGold Resources Inc Forecast and Stock Analysis
Technical NG stock analysis for March 20, 2019.
|Shorts||7.76% ( 2019-02-28 )|
NovaGold Resources Inc gained 0.95% in the last trading day, rising from $4.22 to $4.26 The price has risen in 5 of the last 10 days and is up by 9.51% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.84 million more shares were traded than the day before. In total, 1.42 million shares bought and sold for approximately $6.04 million.
Close price at the end of the last trading day (Wednesday, 20th Mar 2019) of the NG stock was $4.26. This is 0.95% more than the trading day before Tuesday, 19th Mar 2019.
During day the stock fluctuated 4.76% from a day low at $4.10 to a day high of $4.30.
30 day high of the NG stock price was $4.37 and low was $3.68.
90 day high was $4.37 and low was $3.42.
52 week high for the NovaGold Resources Inc - $5.05 and low - $3.41.
NovaGold Resources Inc lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $4.38 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 6.57% during the next 3 months and, with 90% probability hold a price between $3.92 and $4.67 at the end of this period.
Only positive signals in the chart today. NovaGold Resources Inc holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $4.26 and $3.94. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday March 19, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 66 and the stock is currently not being overbought or oversold
Support & Resistance
NovaGold Resources Inc finds support from accumulated volume at $4.22.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.20 between high and low, or 4.76%. For the last week, the stock has had a daily average volatility of 3.07%.
Our recommended stoploss: $4.01 (-5.83%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
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Evaluation: Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.