Novagold Resources Stock Technical Analysis

NG Stock  USD 2.76  0.05  1.85%   
As of the 28th of March, NovaGold Resources secures the Mean Deviation of 2.64, standard deviation of 3.45, and Risk Adjusted Performance of (0.05). In connection with fundamental indicators, the technical analysis model lets you check existing technical drivers of NovaGold Resources, as well as the relationship between them. Strictly speaking, you can use this information to find out if the firm will indeed mirror its model of past prices, or the prices will eventually revert. We were able to analyze and collect data for thirteen technical drivers for NovaGold Resources, which can be compared to its peers in the industry. Please verify NovaGold Resources market risk adjusted performance, variance, as well as the relationship between the Variance and value at risk to decide if NovaGold Resources is priced some-what accurately, providing market reflects its recent price of 2.76 per share. Please also check out NovaGold Resources jensen alpha, which is currently at (0.57) to check the company can sustain itself at a future point.

NovaGold Resources Momentum Analysis

Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as NovaGold, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to NovaGold
  
NovaGold Resources' Momentum analyses are specifically helpful, as they help investors time the market using mark points where the market can reverse. The reversal spots are usually identified through divergence between price movement and momentum.

NovaGold Resources Analyst Consensus

Target PriceAdvice# of Analysts
9.67Buy3Odds
NovaGold Resources current and past analyst recommendations published by a number of research institutions as well as average analyst consensus.
Most NovaGold analysts issue ratings four times a year, at intervals of three months. Ratings are usually accompanied by a target price to helps potential investors understand NovaGold stock's fair price compared to its market value. Analysts arrive at stock ratings after researching public financial statements of NovaGold Resources, talking to its executives and customers, or listening to NovaGold conference calls.
NovaGold Analyst Advice Details
NovaGold Resources technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of NovaGold Resources technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of NovaGold Resources trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...

NovaGold Resources Technical Analysis

Indicator
Time Period
Execute Indicator
The output start index for this execution was three with a total number of output elements of fifty-eight. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of NovaGold Resources volatility. High ATR values indicate high volatility, and low values indicate low volatility.

NovaGold Resources Trend Analysis

Use this graph to draw trend lines for NovaGold Resources. You can use it to identify possible trend reversals for NovaGold Resources as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual NovaGold Resources price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.

NovaGold Resources Best Fit Change Line

The following chart estimates an ordinary least squares regression model for NovaGold Resources applied against its price change over selected period. The best fit line has a slop of   0.02  , which may indicate that the price for NovaGold Resources will continue to decline. It has 122 observation points and a regression sum of squares at 15.14, which is the sum of squared deviations for the predicted NovaGold Resources price change compared to its average price change.

About NovaGold Resources Technical Analysis

The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of NovaGold Resources on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of NovaGold Resources based on its technical analysis. In general, a bottom-up approach, as applied to this company, focuses on NovaGold Resources price pattern first instead of the macroeconomic environment surrounding NovaGold Resources. By analyzing NovaGold Resources's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of NovaGold Resources's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to NovaGold Resources specific price patterns or momentum indicators. Please read more on our technical analysis page.
 2023 2024 (projected)
Fixed Asset Turnover7.46E-47.08E-4
Current Ratio29.3130.78

NovaGold Resources March 28, 2024 Technical Indicators

Most technical analysis of NovaGold help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for NovaGold from various momentum indicators to cycle indicators. When you analyze NovaGold charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.

NovaGold Resources March 28, 2024 Daily Trend Indicators

Traders often use several different daily volumes and price technical indicators to supplement a more traditional technical analysis when analyzing securities such as NovaGold stock. With literally thousands of different options, investors must choose the best indicators for them and familiarize themselves with how they work. We suggest combining traditional momentum indicators with more near-term forms of technical analysis such as Accumulation Distribution or Daily Balance Of Power. With their quantitative nature, daily value technical indicators can also be incorporated into your automated trading systems.
When determining whether NovaGold Resources is a strong investment it is important to analyze NovaGold Resources' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact NovaGold Resources' future performance. For an informed investment choice regarding NovaGold Stock, refer to the following important reports:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaGold Resources. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in price.
For more detail on how to invest in NovaGold Stock please use our How to Invest in NovaGold Resources guide.
Note that the NovaGold Resources information on this page should be used as a complementary analysis to other NovaGold Resources' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.

Complementary Tools for NovaGold Stock analysis

When running NovaGold Resources' price analysis, check to measure NovaGold Resources' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy NovaGold Resources is operating at the current time. Most of NovaGold Resources' value examination focuses on studying past and present price action to predict the probability of NovaGold Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovaGold Resources' price. Additionally, you may evaluate how the addition of NovaGold Resources to your portfolios can decrease your overall portfolio volatility.
Analyst Advice
Analyst recommendations and target price estimates broken down by several categories
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Is NovaGold Resources' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of NovaGold Resources. If investors know NovaGold will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about NovaGold Resources listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share
(0.14)
Return On Assets
(0.09)
Return On Equity
(4.32)
The market value of NovaGold Resources is measured differently than its book value, which is the value of NovaGold that is recorded on the company's balance sheet. Investors also form their own opinion of NovaGold Resources' value that differs from its market value or its book value, called intrinsic value, which is NovaGold Resources' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because NovaGold Resources' market value can be influenced by many factors that don't directly affect NovaGold Resources' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between NovaGold Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if NovaGold Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NovaGold Resources' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.