On Monday, NOL re-test the support at $1.20 and closed at $1.25 with HIGH volume of 16.9 million shares traded.
A black candle sticks with long lower shadow affirms that investors are buying on the support of $1.20.
RSI & MACD are bearish though RSI in oversold region.
Important Resistance of NOL: $1.30
Immediate Support of NOL: $1.20
Currently prices are well below 20/50/100/200 days MA.
Since Jan 2011, NOL has been falling from $2.35 to the current support of $1.20. More than 50% of the prices value is already gone and it is extremely bearish.
NOL remains under fire on Monday as prices re-test the support at $1.20.
Due to the recent falling, we suspect that technical rebound will happen soon anytime in this week.
Watch for the support at $1.20 for any consolidation but do understand that NOL ...
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