On Thursday, NOL re-test the resistance at $1.09 and closed at $1.07 with LOW volume of 2.15 million shares traded.
Both RSI & MACD are flat though RSI at oversold region.
Important Resistance of NOL: $1.09
Immediate Support of NOL: $1.04
Currently prices are resisted by the 50/100 days MA at $1.09.
Since 12 Sep 2013, prices have been trending downwards forming a lower high and lower low. This is a bearish signal.
The resistance at $1.09 is expected to be strong.
We would suggest only buying when prices broke out of the $1.09 resistance with high volume as it signals reversal.