89% Success Rate: NOVA's Aroon Indicator Signals Uptrend
Take advantage of Tickeron's AI robots and tap into the potential of artificial intelligence for informed trading decisions.
Aroon Indicator Signals Uptrend:
On June 21, 2023, NOVA's Aroon Indicator entered an uptrend. Over the past three days, the AroonUp green line has been above 70, while the AroonDown red line remained below 30. This indicates a potential strong uptrend. Based on historical data, A.I.dvisor found 143 successful cases out of 161 similar instances, suggesting an 89% chance of success.
Positive Momentum Indicator:
NOVA's Momentum Indicator turned positive on May 22, 2023. This indicates a new upward move for the stock. In 55 out of 60 similar instances, the stock moved higher in the following days, indicating a 90% chance of a move higher. Traders may consider buying the stock or exploring call options.
Market Capitalization: The average market capitalization in the Electrical Products Industry is 3.76B. NOVA's market cap is $18.62, and companies in the industry range from 12.12K to 181.26B. The highest valued company is NISSF with a market cap of 181.26B, while the lowest valued company is GNAL at 12.12K
Price Movements:
- Weekly price growth across the Electrical Products Industry averaged 0%.
- Monthly price growth averaged 3%.
- Quarterly price growth averaged 6%.
- Notable price growth: EFLVD at 419%.
- Biggest fall: DLYT at -77%.
-
Volume:
- Weekly volume growth across the Electrical Products Industry averaged -33%.
- Monthly volume growth averaged -27%.
- Quarterly volume growth averaged 3%.
As with any investment analysis, it's crucial to conduct further research and consider other factors before making any investment decisions. Market conditions can change rapidly, and it's advisable to consult with a financial advisor for personalized guidance.
Sunnova Energy International (NOVA) shows promising signs of an uptrend according to technical indicators. The Aroon Indicator and Momentum Indicator suggest a potential upward move. However, market capitalization, price movements, and volume should be carefully monitored. Stay informed and make informed decisions to navigate the dynamic world of the Electrical Products industry.
NOVA's Stochastic Oscillator is remaining in oversold zone for 6 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NOVA advanced for three days, in of 251 cases, the price rose further within the following month. The odds of a continued upward trend are .
NOVA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 13, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on NOVA as a result. In of 64 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for NOVA turned negative on September 19, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 39 similar instances when the indicator turned negative. In of the 39 cases the stock turned lower in the days that followed. This puts the odds of success at .
The 50-day moving average for NOVA moved below the 200-day moving average on August 23, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NOVA declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for NOVA entered a downward trend on September 21, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.954) is normal, around the industry mean (5.431). P/E Ratio (0.000) is within average values for comparable stocks, (37.358). NOVA's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (1.598). NOVA has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.025). P/S Ratio (1.857) is also within normal values, averaging (27.911).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. NOVA’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. NOVA’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 82, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a company, which engages in providing solar and energy storage services.
Industry ElectricalProducts
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NOVA and
Correlation & Price change
A.I.dvisor indicates that over the last year, NOVA has been closely correlated with RUN. These tickers have moved in lockstep 89% of the time. This A.I.-generated data suggests there is a high statistical probability that if NOVA jumps, then RUN could also see price increases.
| Ticker / NAME | Correlation To NOVA | 1D Price Change % | ||
|---|---|---|---|---|
| NOVA | 100% | +1.01% | ||
| RUN - NOVA | 89% Closely correlated | -1.09% | ||
| SPWR - NOVA | 80% Closely correlated | -4.24% | ||
| SEDG - NOVA | 66% Closely correlated | -2.03% | ||
| PLUG - NOVA | 63% Loosely correlated | +0.54% | ||
| ENPH - NOVA | 63% Loosely correlated | +0.98% | ||
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