NOVT Price Prediction Next Week
Technical Analysis: NOVT has shown significant weakness recently, breaking below its 200-day moving average of $165.89. The RSI(14) at 33.05 indicates oversold conditions but hasn't shown clear reversal signals yet.
Price Targets for Next Week: Based on Fibonacci levels and current technical indicators:
- Support levels: $141.06 (S1), $138.78 (S2)
- Resistance levels: $148.45 (R1), $150.74 (R2)
Key Technical Signals:
- MACD shows bearish momentum (-2.48)
- Stochastic RSI (14) at 27.11 indicates oversold conditions
- Price trading below all major moving averages (5,10,20,60,200-day)
- Bollinger Band Position (0.07) suggests downward pressure
News Impact: Recent price action shows NOVT has crossed below critical moving averages, suggesting increased selling pressure. The stock has been trading in a range between $142.35 and $187.12 over the past 52 weeks.
Price Prediction for Next Week: Based on technical indicators and current market conditions:
- Most likely scenario: Further decline to $138-140 range
- Target price: $139.50
Recommendation: SELL Rationale:
- Bearish technical setup
- Below all major moving averages
- Weak momentum indicators
- No clear reversal signals yet
NOVT Similar Chart Price Prediction
The price of NOVT is predicted to go up 22.58%, based on the high correlation periods with GPRE. The similarity of these two price pattern on the periods is 93.48%.
NOVT
GPRE
Up: 22.58%Similarity: 93.48%
