NOVA CANNABIS INC (NOVC.CA) Stock Technical Analysis
TSX:NOVC - Toronto Stock Exchange - CA66980W1041 - Common Stock - Currency: CAD
Overall NOVC gets a technical rating of 10 out of 10. Both in the recent history as in the last year, NOVC has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, NOVC did better than 94% of all other stocks. On top of that, NOVC also shows a nice and consistent pattern of rising prices.
NOVC is part of the Specialty Retail industry. There are 16 other stocks in this industry. NOVC outperforms 86% of them.
NOVC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so NOVC is lagging the market slightly.
In the last month NOVC has a been trading in a tight range between 1.71 and 1.76.
Considerably lower volume is observed in the last couple of days.
NOVC has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 1.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.74, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
1.30
1.77
4 important support areas can be observed.
- A support zone ranging from 1.71 to 1.74. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.41 from a trend line in the weekly time frame.
- Support @1.36 from a trend line in the daily time frame.
- Support @1.31 from a trend line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 1.75 to 1.75. This zone is formed by a combination of multiple trend lines in the daily time frame.
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS94.98
Mansfield1.52
10 Day High1.75
10 Day Low1.71
20 Day High1.76
20 Day Low1.71
52 Week High2.08
52 Week Low0.62
Performance
1 Week1.74%
2 Weeks1.16%
1 Month1.16%
3 Month41.13%
6 Month28.68%
12 Month116.05%
2 Year146.48%
3 Year-42.62%
5 YearN/A
10 YearN/A
15 YearN/A
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Technical Indicators
MACD(12,26,9)0
RSI(14)62.39
LBB1.71
UBB1.76
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 1.76 | 1.70 | 0.06 (3.41%) | 25.00% |
| An entry @1.76. This is a Buy Stop order right above the resistance zone. | An exit @1.70. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.06 points, which is 3.41%. | For a 0.85% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
TSX:NOVC (10/22/2024, 7:00:00 PM)
1.75
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustrySpecialty Retail
Performance
% Chg0%
1 Week1.74%
2 Weeks1.16%
1 Month1.16%
3 Month41.13%
6 Month28.68%
12 Month116.05%
2 Year146.48%
3 Year-42.62%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.02
ATR(20)%0.81%
ATR Inc-52.27%
Range Today0.01
ADR(20)0.01
ADR(20)%0.67%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS94.98
Mansfield1.52
10 Day High1.75
10 Day Low1.71
20 Day High1.76
20 Day Low1.71
52 Week High2.08
52 Week Low0.62
CS1 End1.74
CR1 Start1.75
Volume & EV
DER(3)0%
DER(5)-0.45%
Volume5.41K
Volume Incr-27.77%
Vol(5)39.42K
Vol(50)108.87K