Novagold Resources (NG) is a gold producer.  It has long been on our list to buy.  Now the rumors are surfacing that the company is for sale.

Starting a 10% tranche right here at $7.12.

Buy zone on NG is $6.25 to $7.30, preferably closer to $7.00.  Stop zone is $5.  to $5.73 and target zone is $9.60 to $11.20.

There is high risk to this trade, therefore we do not recommend buying more than a 10% tranche here.  Consider adding a second 10% tranche around $6.80.

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