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Investors look to Lighten Up on Shares of Novagold Resources, Shares Down 25.7% (NG)Jul 26, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Novagold Resources (AMEX:NG) is one of today's worst performing low-priced stocks, down 25.7% to $4.00 on 4.7x average daily volume. Novagold Resources has traded 14.0 million shares thus far today, vs. average volume of 2.9 million shares per day. The stock has underperformed the Dow (-25.7% to the Dow's 1.3%) and underperformed the S&P 500 (-25.7% to the S&P's 1.2%) during today's trading. There is potential upside of 82.9% for shares of Novagold Resources based on a current price of $4.00 and an average consensus analyst price target of $7.31. The stock should find initial resistance at its 50-day moving average (MA) of $5.70 and further resistance at its 200-day MA of $7.68. In the past 52 weeks, Novagold Resources share prices have been bracketed by a current low of $3.61 and a high of $11.77 and are now at $4.00. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant. NovaGold Resources Inc. acquires, explores, and develops mineral properties in North America. The Company holds a portfolio of precious and base metal properties in Alaska and Western Canada. SmarTrend recommended that its subscribers protect gains by selling shares of Novagold Resources on February 10th, 2012 by issuing a Downtrend alert when the shares were trading at $8.42. Since that call, shares of Novagold Resources have fallen 36.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |