NOVANTA INC. - Daily - Technical analysis published on 10/29/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 88.82 USD
My targets
94.30 USD (+3.76%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NOVANTA INC. as long as the price remains well above 88.82 USD. The buyers” bullish objective is set at 94.30 USD. A bullish break in this resistance would boost the bullish momentum. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.6
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This analysis was given by Bastien Huneau. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NOVANTA INC. price is 90.88 USD. The price registered an increase of +2.18% on the session with the lowest point at 89.40 USD and the highest point at 91.03 USD. The deviation from the price is +1.66% for the low point and -0.16% for the high point.89.40
91.03
90.88
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this NOVANTA INC. chart shows a strongly bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : Daily
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 78.20 | 85.37 | 88.82 | 90.88 | 94.30 |
| Change (%) | -13.95% | -6.06% | -2.27% | - | +3.76% |
| Change | -12.68 | -5.51 | -2.06 | - | +3.42 |
| Level | Major | Intermediate | Major | - | Major |
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 | 86.16 | 87.14 | 88.04 | 89.03 | 89.93 | 90.91 | 91.81 |
| Camarilla | 88.42 | 88.59 | 88.77 | 88.94 | 89.11 | 89.29 | 89.46 |
| Woodie | 86.11 | 87.12 | 88.00 | 89.01 | 89.88 | 90.89 | 91.77 |
| Fibonacci | 87.14 | 87.86 | 88.31 | 89.03 | 89.75 | 90.19 | 90.91 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.94 | 84.57 | 86.76 | 88.39 | 90.57 | 92.20 | 94.39 |
| Camarilla | 87.89 | 88.24 | 88.59 | 88.94 | 89.29 | 89.64 | 89.99 |
| Woodie | 83.22 | 84.71 | 87.03 | 88.52 | 90.85 | 92.34 | 94.66 |
| Fibonacci | 84.57 | 86.03 | 86.93 | 88.39 | 89.84 | 90.74 | 92.20 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 61.13 | 67.08 | 74.40 | 80.35 | 87.67 | 93.62 | 100.94 |
| Camarilla | 78.07 | 79.29 | 80.50 | 81.72 | 82.94 | 84.15 | 85.37 |
| Woodie | 61.82 | 67.42 | 75.09 | 80.69 | 88.36 | 93.96 | 101.63 |
| Fibonacci | 67.08 | 72.15 | 75.28 | 80.35 | 85.42 | 88.55 | 93.62 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 73.16 | |
| MACD (12,26,9): | 2.3600 | |
| Directional Movement: | 23.04 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 87.50 | |
| Parabolic SAR (0,02-0,02-0,2): | 82.21 | |
| Elder Ray (13): | 4.11 | |
| Super Trend (3,10): | 83.66 | |
| Zig ZAG (10): | 90.88 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 95.22 | |
| TEMA (21): | 89.10 | |
| Williams %R (14): | -1.19 | |
| Chande Momentum Oscillator (20): | 10.94 | |
| Repulse (5,40,3): | 3.3300 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2600 | |
| Courbe Coppock: | 19.96 |
| MA7: | 88.17 | |
| MA20: | 83.21 | |
| MA50: | 80.65 | |
| MA100: | 82.89 | |
| MAexp7: | 87.95 | |
| MAexp20: | 84.77 | |
| MAexp50: | 82.56 | |
| MAexp100: | 81.84 | |
| Price / MA7: | +3.07% | |
| Price / MA20: | +9.22% | |
| Price / MA50: | +12.68% | |
| Price / MA100: | +9.64% | |
| Price / MAexp7: | +3.33% | |
| Price / MAexp20: | +7.21% | |
| Price / MAexp50: | +10.08% | |
| Price / MAexp100: | +11.05% |
News
The last news published on NOVANTA INC. at the time of the generation of this analysis was as follows:
- Novanta Inc. Schedules Earnings Release and Conference Call for Tuesday, November 5, 2019
- Novanta to Participate at the BTIG Healthcare Conference on Thursday, February 28, 2019
- Novanta to Present at Baird's 2018 Global Industrial Conference on Wednesday, November 7, 2018
- Novanta Inc. Schedules Earnings Release and Conference Call for Tuesday, November 6, 2018
- Novanta Acquires Remaining Equity Interest in Laser Quantum
This member declared not having a position on this financial instrument or a related financial instrument.
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