Over the past twenty days of trading, Novagold Resources Inc. (NYSE: NG), from April 30, 2020 to May 28, 2020 there is a potential Short Squeeze about to happen because of an increase in short volume over the past twenty days with very little cover volume.
Because of this the Squeeze Report trend indicator issued a NG Short Squeeze.
Novagold Resources Inc. (NYSE: NG) Short Squeeze Analysis
During the last five days of trading, from May 21, 2020 to May 28, 2020 NG had a staggering 751,269 shares shorted while trading a total of 24,911,274 shares as show the on NG short page.
The last ten days of trading, from May 14, 2020 to May 28, 2020 NG had a staggering 1,212,690 shares shorted while trading a total of 40,578,688 shares as show the on NG short page.
Over the last twenty days of trading, from April 30, 2020 to May 28, 2020 NG had a staggering 1,857,412 shares shorted while trading a total of 69,373,212 shares as show the on NG short page.
According to our proprietary algorithm during the last five trading days there were 2 short days, 2 days with no change but 1 cover days. Over the last ten trading days there were 3 short days, 5 days with no change but 2 cover days. The last twenty trading days there were 6 short day, 11 days with no change but 3 cover days.
Novagold Resources Inc. (NYSE: NG) Short Squeeze Result
The short indicator utilizes several factors before determining a result and because of these indications we have placed a short trend indicator of NG Short Squeeze.
Novagold Resources Inc. (NYSE: NG) Short Squeeze Data
Twenty Day trading Totals
|Total Shorted Volume||1,857,412|
|Total Actual Volume||69,373,212|
|Total Volume Discrepancy||65,427,230|
|No Change Days||11|
|Average Volume Discrepancy||3,271,361|
|Average Short Volume||92,870|
|Average Short Percentage||46%|
The Short Trend Indicator
Squeeze Reports short trend indicator utilizes several different trading factors including, short data, trade data, short analysis and short probability. So become a member of Squeeze Report if you want to to gain access or know more about the short trend indicator and other short trading tools.
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