They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership.  They are in their 30s and,...

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"E-book" by AK

Second "e-book".

Another free "e-book".

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NOL: A favourable wind is blowing.

Monday, May 9, 2011

NOL was a star performer today as its share price advanced 9c or 4.9% to close at $1.93, the day's high. A long wickless white candle was formed on the back of very high volume. This bodes well for the bulls and we could see the company's share price pushing higher tomorrow.

Higher up, much stronger resistance would be felt in a band from $1.98 to $2.00.  The trendline resistance also approximates $2.00. To go higher, the downtrend that started on 5 January has to be broken decisively. Could it happen this week?

The MACD has formed another higher low although the counter's share price formed a lower low. Positive divergence? Yes, looks like it. So, to take advantage of the positive divergence, buy and hold?

Well, I am somewhat apprehensive as NOL is in a multi-month downtrend and conventional wisdom which believes that the trend is our friend would say that we sell at resistance in a downtrend. It might be prudent to err on the side of caution. When in doubt, I divest partially.


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