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Tuesday, March 22, 2011

Bought NOL @ $2.01

Bought NOL as a short term trade.





NOL Daily Chart:
Bullish divergences seen for:
1. MACD Histo. Classic A-B-C Divergence.
2. RSI.
3. Stochastics.

What concerns me is the low volume these few days.

Nonetheless, seeing these triple bullish divergences gets me bullish too.


Downtrend Channel support is roughly at 1.90.

Profit Target is at the support turned resistance of 2.10. If it breaches this resistance with high volume, I will set trailing stop. Else, sell off all at 2.10.

Stop Loss is at 1.90.

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