Analyzing the options chain and the chart patterns of NG NovaGold Resources prior to the earnings report this week,
I would consider purchasing the 3usd strike price at the money calls with
an expiration date of 2024-6-21,
for a premium of approximately $0.37.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
A higher probability of strong earnings in Q4. Nova is an exploration company that will benefit from the expected BullRun in gold prices to $2100. The stock price is back to pre-covid levels despite higher commodity prices in 2023.
Novagold looks to be at the beginning of a W3 impulse move higher . This stock has been out of favor forever ! It's another one like NDM that seems to have been in alaska permitting purgatory since as long as i can remember ... but like NDM they got the goods and one day ... hehe ... at these levels i figure this is worth throwing some money at . I dont care about...
Key area of interest in the $4 range.
Oversold on multiple time frames. Back to area of breakout. At an annual pivot. Potential weekly and monthly stochastic divergences, but only minor ones and not confirmed. Worth a small shot with 40 cent trailing stop and first target 4.80. Then reevaluate.
NG closed with a solid weekly candle which is indicating bullish momentum. It appears that we're primed to test the .618 level, and if we break through, we're in for a massive move. Breaking that level means shattering resistance and breaching the 200 EMA - all good signs for a rise in NG prices. I’m targeting the $8 zone for taking profits.
This chart based...
$NG Target 10.09 for 23.20%
Or double position at 6.29
That's one heck of a dip right there. I don't love trading gold so I took a smaller than normal position here... but it looks like it has a nice range.
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I...
Chart speaks for itself, many other bullish indications other than mentioned directly in the chart e.g currently trading above 50 day ma and 13 and 26 EMAs. Will need to see price action in the coming days before making a decision.
Hey traders, NOVAGOLD RESOURCES is in a bullish configuration with high buying volume and a failed sellers attempt. We see the last session then the one before a large volume of sales executed. NOVAGOLD RESOURCES is heading towards its last low point See the 5 Min TIMEFRAME to turn around.
Strong potential to breakout the consolidation zone to reach the next high...
AMEX:NG been trading between $9.80 and $8 for 3 months forming a rectangle chart pattern. A down sloping trend-line is now also conversing with the rectangle resistance boundary. Breaking these 2 resistance levels will add to the validating of the breakout and triggers a long entry.
AMEX:NG On Thursday May 28th,“Short seller” J Capital (j cap is their hip, self- appointed nickname) published an intentionally provocative report saying to short NovaGold Resources. It included a bunch of attention-grabbing sections (entitled things like Original Sin and Fool’s Gold), very clever...
However, a rudimentary background check on Tim Murray and Anne...
