pokemaughan
Long

Another look at NG

AMEX:NG   NOVAGOLD RESOURCES INC
65 0 0
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 these low prices. The risk-per-share on this stock is not to be taken lightly.
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