The Stock for Today: Nova Gold (NGD)

Hello my Investors, Traders and Readers friends. The market closed yesterday with very little variation in relation to the previous day. However, the session was highly volatile. The Nasdaq Comp. rose to 1.25% above the previous day and 1.35% below the close of the before day. Two other important aspects are as follows: Firstly, the market is building a second area of congestion. The firs lasted four days and the second also takes four days. On the one hand, this can be positive because it creates future levels of support.

However, it also reveals the difficulty of the market to reach higher levels. On the other hand, we see a nervousness among investors. Stocks rise on two consecutive days and on the third day, immediately, investors leaving to make profits, causing significant declines in those stocks. I have reviewed my particular list of stocks and such behavior is seen in almost three-quarters of these stocks. In particular, the behavior of this market is not liking me. I hope that in the next few days to follow up a little, but I think the subsequent correction is inevitable.

Interestingly, the stock would like to show today is Nova Gold Inc. (NGD). Yesterday, NGD made a breakout, closing at US$ 12.19 (+3.13%). This stock shows a very favorable pattern and may continue to rise. Please click on the chart to enlarge.

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