NOL: Is the worst over?

Despite negative sentiments towards shipping companies, NOL's chart is showing signs of bottoming. If it has not bottomed, it has certainly found a floor and a rather strong one at that.

The long white candle formed today was on the back of relatively high volume. Fibo lines show that $1.175 is a rather strong resistance and if we could overcome this convincingly, next resistance levels are at $1.19 and $1.205.

The MACD has formed a higher low and has once again ventured into positive territory. Momentum has once again turned positive, if only barely so. The MFI is set to form a higher high which suggests a return of demand. Being above the 50% line, we could see some support afforded by this line in case of a retracement in price.

For a longer term picture, look to the weekly chart for clues. The MACD has been rising since the middle of August but it is still in negative territory. The MFI is currently supported by the 50% line. It also looks like we could be seeing the formation of a double bottom.

More importantly, for the first time in a long time, price is above the 20wMA. The week, however, has not ended. So, the situation is still fluid.

A pattern is not formed until it has formed, of course. However, the worst could be over for NOL.

Tea with AK71: Macarons from ZUJI.

Today, I got a treat from ZUJI. They sent me a box of six macarons. What are macarons? I know what is macaroni. ;-p

Very nicely boxed and ribboned.

 
Wikipedia says it is "a sweet confectionery made with egg whites, icing sugar, granulated sugar, almond powder and food coloring. The macaron is commonly filled with buttercream or jam filling sandwiched between two cookies."

Letter says to eat within 3 days but the expiry date on the box says 8 Dec 2011.

According to a colleague, these macarons are quite pricey and they are being sold in atas places like MBS. Price? $3+ each! Oh, my goodness! I could have a very good lunch for $3! Sorry for the exclamations but I am not well informed when it comes to atas food and atas malls.

If I was not told, I would have thought the box of macarons is at most $5 in price. So, this box of 6 macarons is worth more than $18!

I was told that Canele is definitely branded.

Macarons melted and cracked during delivery but the aroma was heavenly. Yummy too.

Oh well, just food to me. It is very nice of ZUJI to send me something sweet for booking hotel rooms and sometimes air tickets through them. I do have a sweet tooth. :)

Planning a trip? Check if ZUJI has a good deal for you! Click here.