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NOVO RESOURCES CORP (NVO.CA) Stock Technical Analysis

TSX:NVO - Toronto Stock Exchange - CA67010B1022 - Common Stock - Currency: CAD

0.095  -0.01 (-5%)

Technical Rating and Analysis

6

Overall NVO gets a technical rating of 6 out of 10. In the last year, NVO was a below average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.

When comparing the yearly performance of all stocks, NVO is a bad performer in the overall market: 74% of all stocks are doing better.
NVO is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
In the last month NVO has a been trading in the 0.08 - 0.10 range, which is quite wide. It is currently trading near the high of this range.
NVO is part of the Metals & Mining industry. There are 818 other stocks in this industry, NVO did better than 43% of them.
Volume is considerably higher in the last couple of days.

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Weekly and Daily overview Charts
NOVO RESOURCES CORP / NVO Weekly stock chart
NOVO RESOURCES CORP / NVO Daily stock chart
Setup Rating and Analysis

7

Although the technical rating is only medium, NVO does present a nice setup opportunity. 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 0.10. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 0.09, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for NVO in the last couple of days, which is a good sign.

  • Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.

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Support and Resistance Analysis

0.08

0.10

When analyzing the support we can see 2 important areas.

  • A support zone ranging from 0.09 to 0.09. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @0.08 from a trend line in the daily time frame.

We found 1 important resistance area.

  • A resistance zone ranging from 0.10 to 0.10. This zone is formed by a combination of multiple trend lines in multiple time frames.

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Statistics, Performance, Trends, Indicators, Chart- and CandleStick Patterns
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS26.97
Mansfield-1.74
10 Day High0.1
10 Day Low0.08
20 Day High0.1
20 Day Low0.08
52 Week High0.19
52 Week Low0.07
Performance
1 Week5.56%
2 Weeks5.56%
1 Month5.56%
3 Month18.75%
6 Month11.76%
12 Month-26.92%
2 Year-71.21%
3 Year-90.59%
5 Year-95.6%
10 YearN/A
15 YearN/A

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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)

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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)54.06
LBB0.08
UBB0.1

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Example Setup

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.

ENTRYEXITDISTANCECAPITAL
0.110.080.03 (27.27%)3.67%
An entry @0.11. This is a Buy Stop order right above the resistance zone.An exit @0.08. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 0.03 points, which is 27.27%.For a 1.00% total portfolio risk, you can invest 3.67% 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.

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NOVO RESOURCES CORP / NVO Daily stock chart

NOVO RESOURCES CORP

TSX:NVO (2/21/2025, 7:00:00 PM)

0.095

-0.01 (-5%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-5%
1 Week5.56%
2 Weeks5.56%
1 Month5.56%
3 Month18.75%
6 Month11.76%
12 Month-26.92%
2 Year-71.21%
3 Year-90.59%
5 Year-95.6%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.01
ATR(20)%6.05%
ATR Inc-63.16%
Range Today0
ADR(20)0
ADR(20)%5%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS26.97
Mansfield-1.74
10 Day High0.1
10 Day Low0.08
20 Day High0.1
20 Day Low0.08
52 Week High0.19
52 Week Low0.07
CS1 End0.09
CR1 Start0.1
Volume & EV
DER(3)8.87%
DER(5)-6.61%
Volume32.51K
Volume Incr102.37%
Vol(5)135.03K
Vol(50)90.16K