Today NOL had managed to retain its normal trading volume at 20.2 million shares despite low trading activity at STI.
In short term, NOL has been clinging on the support at $2.03 for 2 consecutive days and close at $2.06 to mark a “hammer” candle stick Tuesday. Do look out for a “confirmation” candlestick tomorrow if a reversal pattern will occur.
Important Resistance of NOL: $2.13
Immediate Support of NOL: $2.03
Major Support of NOL: $1.92
The direction of NOL might not be so clear now but watch for the major support at $1.92 (With 100 MA at same region) if you are currently vested. Huge selling pressure will be expected once $1.92 support is broken.
Investors who are interested in buying NOL may need to wait for more confirmation from this counter before taking any actions.
PS: Note that once the symmetrical triangle of RSI broken, the price slump swiftly downwards.
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