New high is for #Novagold today but #rsi is still weak and may pull back on next week before it continues.
A 3.7 billion mkt cap company with a solid balance sheet and no earnings or cash flow to speak of, but this baby's value comes from its assets in the ground. The price action recently has been highly correlated with gold. Gold: "The only asset that isn't someone else's Liability"
Novagold Resources Inc. is a mineral exploration company. The Company is engaged in the exploration and development of mineral properties. The Company's segments include the Donlin Gold project in Alaska, the United States and the Galore Creek project in British Columbia, Canada. The Company operates in the gold mining industry, primarily focused on advancing...
NG has had a 55% move in a matter of one month, by any standards that is parabolic and such moves often end in disaster for those late to the party. AS GOLD had broken out so has the many ETF,s that follow the commodity which explains why even the lesser companies are moving at such a pace. Given the paper profits within the sector any sell off could be very...
#NG is trading above monthly resistant line indicating a major upside potential. Will be waiting for the to close above 200 MA on weekly chart before choosing my long entry point. To be updated...
The downward trend is expected to continue. Fundamentally, the Randgold / Barrick fusion does not help the company either. The decrease is expected in a triple wave structure that can be formed along a downward channel. The target price is around 2.60 usd.
Nat Gas has put in a solid bottom and is near a breakout. I prefer to see a back test (BT) that does not close below the break out line with a wick that plunges deeper to scar off the kids.
Price and volume breakout. target price is at around 4.89. support and resistance are marked on the chart
Following on my idea posted at the beginning of this year. With the break of the $5 support, this potential reversal to the upside is looking weak. I expect strong buying near $3.50, after which we'll see a test of the $5 level as resistance. Following that, it'll be decision time for this trend to continue or fail miserably. Watch very closely for failures at...
Scanning over some stocks most look like topping patterns. looking at some gold stocks gives the opposite impression with some in uptrend and others like NG breaking out of a 2 year base. NG looks to be approaching a key resistance level. This will be a good opportunity to gage the strength of NG. I'll update if I see a shallow pull back or continuation pattern....