Is it Time to Dump NovaGold Resources Inc. (NG) Stock After it Is Up 15.22% in a Week?

Monday, August 31, 2020 10:44 AM | InvestorsObserver Analysts

The market has been high on NovaGold Resources Inc. (NG) stock recently. NG gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bullish
NovaGold Resources Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on NG!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.

InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.

Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With NG Stock Today?

NovaGold Resources Inc. (NG) stock is up 8.38% while the S&P 500 is lower by -0.17% as of 10:43 AM on Monday, Aug 31. NG is higher by $0.82 from the previous closing price of $9.78 on volume of 1,239,720 shares. Over the past year the S&P 500 is up 20.50% while NG is higher by 41.52%. NG lost -$0.09 per share in the over the last 12 months.

To see InvestorsObserver's Sentiment Score for NovaGold Resources Inc. click here.

More About NovaGold Resources Inc.

Novagold Resources Inc is a mineral exploration company engaged in the exploration and development of mineral properties. The company owns 50% of the Donlin Gold project, which is located in southwestern Alaska, approximately 20 kilometres north of the village of Crooked Creek on the Kuskokwim River.

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