One of the reasons I’m looking at the cheaper stocks is because we are rapidly approaching that time of year when the “January Effect” starts to kick in. This is when professional traders and money managers start to move out of their large cap holdings with a goal of shifting into the small cap market. Novagold (NG) is a small cap stock that has a lot of appeal and as you can see from the weekly candle chart (above) the stock is beginning to pivot up from a bullish engulfing pattern that formed about three and a half weeks ago.
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