NOL: A quick trade.

On 12 July, NOL formed a white candle and I mentioned that I was wary of its reliability as it was formed on relatively low volume. I also used Fibo lines to determine where stronger supports could be found. Then, I added to my long position at these supports. See blog post here.

On 19 July, NOL formed a white hammer and I wondered if price could rise to test $1.45. See blog post here.

For the last three days, I have been in the queue to sell at $1.45. Today, it was done.

With price closing at $1.42, will it be going lower from here? I am not so sure because I see a higher low on the MACD. A positive divergence has formed, it would seem. If $1.45 were to be taken out convincingly, we could see price going higher to $1.56.