On Thursday, NOL re-test the resistance at $1.05 and closed at $1.03 with regular volume of 11.6 million shares traded.

During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles.  During the past 50 bars, there have been 18 white candles and 26 black candles for a net of 8 black candles.

RSI & MACD are bearish though RSI in oversold region.

Important Resistance of NOL: $1.05

Immediate Support of NOL: $0.995

Currently prices are well below 20/50/100/200 days MA.

Since 11/April, NOL has been undergo heavy selling pressure and the selling has yet to eased as prices seems to lost its power to rally higher.

The support at $0.995 is expected to be strong.

Although we do not suggest buying such bearish stocks but we would expect prices to rebound ...