Sponsored Links

To retire by age 45, start with a plan.

"Is early retirement the right financial choice?" Jim Ellis discusses long-term financial growth strategies. I have blogged a...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Pageviews since Dec'09

Recent Comments

ASSI's Guest bloggers

NOL: Going higher?

Wednesday, April 13, 2011

Just yesterday, I initiated a long position in NOL at $1.95. Today, it closed at $2.01, forming a long white candle in the process. The fact that 1,918 lots were bought up at $2.01 after market closed is promising and we could see resistance at $2.01 broken tomorrow.


Further upward movement in price could see a gap close at $2.05 which coincides with the declining 50dMA. Going higher would see resistance at $2.09 (200dMA) and $2.13 (100dMA). All the momentum oscillators are midway of their own range and whichever direction the share price decides on moving, we could see some distance travelled before it becomes either overbought or oversold.

When would I divest? Well, if price continues to rise in the next couple of days, I could do a contra and keep the gains. Zero cost.


On the weekly chart, a strong resistance shows up at $2.07. This is provided by the declining 50wMA and 200wMA. Could we see $2.07 tested in the next couple of days or would the price sink to test support at $1.95 once more?

Related post:
NOL: Initiated long position at $1.95.

0 comments:

Monthly Popular Posts

 
 
Bloggy Award