September 13, 2012 at 4:36 pm | | Comments 0

The Northern Road to Recovery

One stock on my radar right now is Northern Oil and Gas – NOG.

Having emerged from a 48.5% correction from the January high to the July low, the stock has seemingly turned the corner technically.  A quiet lift into mid-August was met with only limited selling pressure on weak volume.  That carved out a higher low, then strength returned on heavier volume with the arrival of September to mark a higher high.

Currently the stock is sitting in a tight bull flag pattern, which if resolved to the upside, could spark a continued recovery in the name.  This is one to put on the radar for the days to come, as this rest phase sets the stage for higher prices once again.

Here’s a closer look at the chart of NOG for you:

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Jeff White
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