NOL has been looking to break beyond $1.45 since last week only to meet strong resistance from the market at that levels. After all, it did seem a bit overbought and has encountered strong headwinds.

However, today NOL looked to have staged a breakout this morning before retreating to test the support for the first time. It has broken out of a ascending triangle pattern. It is still at $1.49, a very healthy price. More upside seems very possible! A little caution though given the MACD has been sloping downwards since last week and has gone under the signal line. But that should prove less significant in disrupting this further uptrend.

Fundamentally, NOL has risen 26% since the start of the year compared to counterparts Cosco and Yangzijiang that have risen 41% and 38% respectively (Source:SGX). I fully expect the value of NOL to tumble up now given …