NEW YORK (TheStreet) -- Gold bugs are like racing enthusiasts -- they are always looking for something that can go from zero to 60. We really don't want a stock at zero but we wouldn't mind a stock that can really accelerate.

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In the longer-term chart of NovaGold Resources(NG) - Get Report , above, we can see some really big swings both up and down.

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In the chart of NG, above, we can see a large triangle shaped pattern for NG with the highs and lows coming closer together. Two positives appear on the chart -- first is that the On-Balance-Volume (OBV) line has been rising for two years and second is that the 40-week moving average has begun to turn up. This positive pattern would be broken if prices fell back under $3.