NOL suffered heavy selling today and touched a low of $1.71 before closing at $1.73. Such an intense sell down could see a follow through the next day.
However, it is interesting to see that despite the heavy selling pressure, we still have the potential for a positive divergence to form. Much would depend the price action in the next session.
The lower range of the moving average envelope should provide some support at $1.68 in the event of further selling down. Any recovery in price could see gap cover at $1.82......