Shares & Derivatives
NOL: Initiated long position at $1.95.
By A Singaporean Stockmarket Investor (ASSI)  •  April 12, 2011

My overnight buy queue for NOL at $1.95 was filled today.


NOL has emerged from a downtrend which started on 7 February but it is still within a downtrend which started on 5 January. It is currently moving sideways and we could possibly see some rangebound trading in the near future with $2.01 and $1.92 as the upper and lower limits. Would price move up or down from here? The Stochastics is currently flat at 50% and there is equal chance for upside and downside in the near term.

Any weakness which might lead to a test of support at $1.92 could see me increasing my stake in the company.  This is because the weekly chart shows a rising 100dMA, currently at $1.90. Only after 2 days into the week, it is easy to see that $1.95 seems to be an important pyschological ......
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By A Singaporean Stockmarket Investor (ASSI)
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