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The entire contents of this blog are meant for pure reading pleasure. Nothing on this blog should ever be taken as advice to trade under any circumstances. By entering and reading this blog, you have agreed that I am not in anyway responsible for your trading outcomes.

I am NOT A PROFESSIONAL FINANCIAL ADVISER, and the analysis is just a market novice's opinion.

Thursday, August 19, 2010

NOL sideways movement for the week


For the last week, NOL has been displaying sideways movement in the price range of 1.92 to 1.99. 1.92 has the the historical resistance turned support level for the price of NOL, while that of 1.99 was established when NOL retreated from this price level over the last few days. Volume has been deceasing, and indication that market participation has been declining. A breakout and a subsequent close above 2.00 would be necessary to induce buyers back into the counter to lift sentiments.
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