NFG is my coffee can gold miner. I probably hold too much of it for the size of my portfolio (sometimes you got to take a chance) However, I am thinking the technical picture right now is strong.
Since I am a share holder my opinion is biased, but here is what I see on the 2 HR chart:
– a solid double bottom with a break out above the DB hump where it consolidated to form the right shoulder of an inverse SHS pattern
– a break out above the inverse SHS neckline. The positioning of the neckline is not certain, but seems to fit OK near as I can tell. The stock could make a stab lower before advancing. No way to be sure. But I do like the look of it so far.
If the neckline is positioned correctly, and if the stock advances as I expect (again, no guarantees) then the price objective is $4.75

NFG.TO – 2HR

Switching to a daily chart we can see that $4.75, if achieved, would be a break above the upper trend line of the bull flag pattern.
(I drew the inverse SHS neckline differently on the daily chart. Either way it tells the same story)

NFG.TO – Daily

You must of course do your own Due Diligence.
Cheers