NOVAGOLD RESOURCES INC.

- USD (-)

- 15 min delayed data - NYSE MKT Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	NG
ISIN:	CA66987E2069

NOVAGOLD RESOURCES INC. - 1H - Technical analysis published on 04/23/2024 (GMT)

Londinia

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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

61%

33%

My opinion

Bearish under 3.04 USD

My targets

2.87 USD (-2.05%)

2.80 USD (-4.44%)

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 3.04 USD. The next support located at 2.87 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 2.80 USD. Below this support, sellers could then target 2.67 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.

In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.

Force

4.3

Comment on the analysis

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.

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Additional analysis

Quotes

The NOVAGOLD RESOURCES INC. rating is 2.93 USD. On the day, this instrument gained +4.27% with the lowest point at 2.75 USD and the highest point at 2.98 USD. The deviation from the price is +6.55% for the low point and -1.68% for the high point.

2.75

2.98

2.93

The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.

Opening Gap DOWN

Type : Bearish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

Technical

Technical analysis of NOVAGOLD RESOURCES INC. in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

The technical indicators are bullish. There is still some doubt about the price increase.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Weekly

Momentum indicator is back over 0

Type : Bullish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2.67	2.80	2.87	2.93	3.04	3.20	3.31
Change (%)	-8.87%	-4.44%	-2.05%	-	+3.75%	+9.22%	+12.97%
Change	-0.26	-0.13	-0.06	-	+0.11	+0.27	+0.38
Level	Intermediate	Intermediate	Intermediate	-	Intermediate	Minor	Major

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.48	2.63	2.72	2.87	2.96	3.11	3.20
Camarilla	2.74	2.77	2.79	2.81	2.83	2.85	2.88
Woodie	2.45	2.62	2.69	2.86	2.93	3.10	3.17
Fibonacci	2.63	2.72	2.78	2.87	2.96	3.02	3.11

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.85	2.93	3.02	3.10	3.19	3.27	3.36
Camarilla	3.05	3.07	3.08	3.10	3.12	3.13	3.15
Woodie	2.85	2.93	3.02	3.10	3.19	3.27	3.36
Fibonacci	2.93	3.00	3.04	3.10	3.17	3.21	3.27

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.02	2.21	2.61	2.80	3.20	3.39	3.79
Camarilla	2.84	2.89	2.95	3.00	3.05	3.11	3.16
Woodie	2.12	2.26	2.71	2.85	3.30	3.44	3.89
Fibonacci	2.21	2.44	2.58	2.80	3.03	3.17	3.39

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):	47.22
MACD (12,26,9):	-0.0400
Directional Movement:	0.41
AROON (14):	-57.15
DEMA (21):	2.89
Parabolic SAR (0,02-0,02-0,2):	2.79
Elder Ray (13):	0.03
Super Trend (3,10):	2.79
Zig ZAG (10):	2.95
VORTEX (21):	0.8700
Stochastique (14,3,5):	59.29
TEMA (21):	2.89
Williams %R (14):	-42.86
Chande Momentum Oscillator (20):	0.02
Repulse (5,40,3):	0.5200
ROCnROLL:	-1
TRIX (15,9):	-0.2800
Courbe Coppock:	7.73

MA7:	3.05
MA20:	3.08
MA50:	2.74
MA100:	3.09
MAexp7:	2.93
MAexp20:	2.95
MAexp50:	3.03
MAexp100:	3.04
Price / MA7:	-3.93%
Price / MA20:	-4.87%
Price / MA50:	+6.93%
Price / MA100:	-5.18%
Price / MAexp7:	-0%
Price / MAexp20:	-0.68%
Price / MAexp50:	-3.30%
Price / MAexp100:	-3.62%

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:

This member declared not having a position on this financial instrument or a related financial instrument.

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