I applied Bollinger bands to the chart of NOG. It is evident that the stock has been trading up but consolidating so as to stay in the bands. The bands are still angling up and have yet to start curling down- thus I believe the trend is still up. Furthermore- drawing a few trend lines forms a wedge pattern where the points won't meet until around $2.5 or more. It is currently trading at $1.60. This could be a potential 54% gain.
Comment:
Small red doji today. The stock did move up, thus following my wedge idea, but hasn't reached the resistance line. The EMA(9) did pass the EMA(200) making this pick more bullish in my opinion.