On Friday, NOL re-test $2.26 resistance and closed at $2.22 with LOW volume of 5 million shares traded.
A black candle stick with little upper shadow indicates that traders prefer to take profit as it approaches the resistance rather than buying it upwards.
Both RSI & MACD are turning bullish as MACD perform a “golden cross” today.
Important Resistance of NOL: $2.26
Immediate Support of NOL: $2.22
Currently prices are supported by 20 days MA at $2.22
NOL continues to be supported at the rising trend lines although the trading volume has been decreasing for the past weeks.
We would not say NOL is bullish since MACD golden cross has perform under very low trading volume.
Therefore we would not advise investors to enter NOL in short term.
Wait for more pullback to 200 days MA or breakout of critical resistance at $2.35