Monday, October 17, 2011

NOL: A messy ascending triangle?

Could this be an ascending triangle I see in NOL's chart?

Although ascending triangles are usually seen as a continuation pattern in an uptrend, a breakout could send NOL's share price higher to test resistance provided by the descending 100dMA which is currently at $1.32.


The 20dMA is set to form a golden cross with the 50dMA and is likely to provide immediate support at $1.115 in case of a