pokemaughan
Long

Gold Expectations

AMEX:NG   NOVAGOLD RESOURCES INC
119 0 1
lows = buy
Comment: Profit target number 1 hit, let's keep it going :)
Comment: Currently finding support at '07 and '11s crash low. Critical point here for the potential new trend to continue.
Comment: A critical support in NG has broken, effectively invalidating the recent positive trend change.The most likely stopping point for the current downward move will be 3.76, the mean point of return and initial buying for the trend change.

The good news is that this stock will be cheap again very soon, with an ideal entry point at 3.45.
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