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NG Crosses Below Key Moving Average Level
Wednesday, April 26, 7:36 PM ET, by Market News Video Staff

In trading on Wednesday, shares of NovaGold Resources Inc. (NG) crossed below their 200 day ...

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NovaGold Resources Breaks Above 200-Day Moving Average - Bullish for NG
Tuesday, May 23, 4:37 PM ET, by Market News Video Staff

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NG Crosses Critical Technical Indicator
Tuesday, May 30, 11:42 AM ET, by Market News Video Staff

In trading on Tuesday, shares of NovaGold Resources Inc. (NG) entered into oversold territory, changing ...

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NG Crosses Critical Technical Indicator

By Metals Channel Staff, Monday, July 19, 12:00 PM ET
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In trading on Monday, shares of NovaGold Resources Inc. (AMEX:NG) entered into oversold territory, changing hands as low as $7.62 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of NovaGold Resources Inc., the RSI reading has hit 26.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 35.0, the RSI of Spot Gold is at 45.0, and the RSI of Spot Silver is presently 36.1.

A bullish investor could look at NG's 26.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), NG's low point in its 52 week range is $7.62 per share, with $12.10 as the 52 week high point — that compares with a last trade of $7.72. NovaGold Resources Inc. shares are currently trading off about 3.5% on the day.

NovaGold Resources Inc. 1 Year Performance Chart


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