Novanta Technical Analysis (NASDAQ:NOVT)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. The Novanta stock price data and volume are plotted in NOVT stock charts and these trading charts form the basis of technical analysis.
You can view Simple Moving Average - SMA 20 day, 50 day & 100 day, Exponential Moving Average - EMA 20 day, 50 day & 100 day charts, and Bollinger Bands for Novanta. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Novanta stock analysis.
Novanta Moving Average
Moving averages show the average price of NOVT stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $67.12 is below the price of $71.1.
Novanta Bollinger Bands
Bollinger bands comprise of a center line usually NOVT SMA, and two NOVT stock price bands above and below it. The stock is considered overbought when the price starts moving closer towards the upper band, and is considered oversold as stock price moves closer towards the lower band. Currently the stock price of $71.1 is in the upper range of Novanta bollinger bands.
Novanta Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Novanta MACD line is below the signal line.
Novanta Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. The relative strength index of NOVT stock is 58.68.