NovaGold Resources (NG) is engaged in the exploration and development of mineral properties in Alaska and British Columbia. This stock is trading up 5.7% to $5.35 in recent trading.
Today's Range: $5.06-$5.3652-Week Range: $3.61-$11.77 Volume: 2.4 million Three-Month Average Volume: 3.6 million From a technical perspective, NG is bouncing hard here right off its 50-day moving average of $4.95 with decent volume. Traders should now look for long-biased trades in NG as long as it's trending above its 50-day at $4.95 with strong upside volume flows. I would consider any upside volume day that registers near or above 3,604,760 shares as bullish. If NG can maintain that trend with bullish volume patterns, then this stock will setup to re-test or possibly take out its next major overhead resistance levels at $6.30 to $6.48. If those levels get taken out with volume, then NG could trend north of $7 in the near future.
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