NOVAGOLD RESOURCES INC. - 1H - Technical analysis published on 12/17/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
33%
33%
33%
My opinion
Bearish under 3.50 USD
My targets
3.31 USD (-2.93%)
3.24 USD (-4.99%)
My analysis
NOVAGOLD RESOURCES INC. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 3.50 USD. The next support located at 3.31 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 3.24 USD. Below this support, sellers could then target 3.05 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.1
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NOVAGOLD RESOURCES INC. rating 3.41 USD. The price is lower by -0.29% since the last closing with the lowest point at 3.36 USD and the highest point at 3.49 USD. The deviation from the price is +1.49% for the low point and -2.29% for the high point.3.36
3.49
3.41
The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this NOVAGOLD RESOURCES INC. chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 6 are neutral and 6 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3.05 | 3.24 | 3.31 | 3.41 | 3.42 | 3.50 | 3.66 |
| Change (%) | -10.56% | -4.99% | -2.93% | - | +0.29% | +2.64% | +7.33% |
| Change | -0.36 | -0.17 | -0.10 | - | +0.01 | +0.09 | +0.25 |
| Level | Minor | Intermediate | Minor | - | Major | Intermediate | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.25 | 3.30 | 3.36 | 3.41 | 3.47 | 3.52 | 3.58 |
| Camarilla | 3.39 | 3.40 | 3.41 | 3.42 | 3.43 | 3.44 | 3.45 |
| Woodie | 3.26 | 3.30 | 3.37 | 3.41 | 3.48 | 3.52 | 3.59 |
| Fibonacci | 3.30 | 3.34 | 3.37 | 3.41 | 3.45 | 3.48 | 3.52 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.73 | 3.05 | 3.23 | 3.55 | 3.73 | 4.05 | 4.23 |
| Camarilla | 3.26 | 3.31 | 3.35 | 3.40 | 3.45 | 3.49 | 3.54 |
| Woodie | 2.65 | 3.02 | 3.15 | 3.52 | 3.65 | 4.02 | 4.15 |
| Fibonacci | 3.05 | 3.24 | 3.36 | 3.55 | 3.74 | 3.86 | 4.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 2.87 | 3.05 | 3.36 | 3.54 | 3.85 | 4.03 | 4.34 |
| Camarilla | 3.53 | 3.57 | 3.62 | 3.66 | 3.71 | 3.75 | 3.80 |
| Woodie | 2.93 | 3.08 | 3.42 | 3.57 | 3.91 | 4.06 | 4.40 |
| Fibonacci | 3.05 | 3.24 | 3.36 | 3.54 | 3.73 | 3.85 | 4.03 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 37.33 | |
| MACD (12,26,9): | -0.0400 | |
| Directional Movement: | -6.81 | |
| AROON (14): | 42.85 | |
| DEMA (21): | 3.40 | |
| Parabolic SAR (0,02-0,02-0,2): | 3.36 | |
| Elder Ray (13): | -0.05 | |
| Super Trend (3,10): | 3.55 | |
| Zig ZAG (10): | 3.41 | |
| VORTEX (21): | 0.8400 | |
| Stochastique (14,3,5): | 46.43 | |
| TEMA (21): | 3.38 | |
| Williams %R (14): | -57.14 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | 0.1900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.1900 | |
| Courbe Coppock: | 3.33 |
| MA7: | 3.51 | |
| MA20: | 3.56 | |
| MA50: | 3.55 | |
| MA100: | 3.90 | |
| MAexp7: | 3.42 | |
| MAexp20: | 3.46 | |
| MAexp50: | 3.52 | |
| MAexp100: | 3.54 | |
| Price / MA7: | -2.85% | |
| Price / MA20: | -4.21% | |
| Price / MA50: | -3.94% | |
| Price / MA100: | -12.56% | |
| Price / MAexp7: | -0.29% | |
| Price / MAexp20: | -1.45% | |
| Price / MAexp50: | -3.13% | |
| Price / MAexp100: | -3.67% |
Quotes :
-
15 min delayed data
-
NYSE MKT Stocks
News
The last news published on NOVAGOLD RESOURCES INC. at the time of the generation of this analysis was as follows:
- NOVAGOLD Reports Third Quarter 2024 Financial Results
- SAVE THE DATE: NOVAGOLD 2024 Third Quarter Financial Results Release, Conference Call and Video Webcast
- NOVAGOLD Reports Second Quarter 2024 Financial Results
- NOVAGOLD Welcomes Peter Adamek as New Chief Financial Officer
- SAVE THE DATE: NOVAGOLD 2024 Second Quarter Financial Results Release, Conference Call and Video Webcast
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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