Current NOL chart looks bearish. A Bearish Engulfing candlestick pattern especially at the resistance level was observed. This is a reversal pattern after the recent rebounce. Keep a close eye that whether 20D MA crosses down the 200D MA in the next few days. If yes, NOL will start a bearish down trend.
NOL looks like going to end the up trend if this Up Trend Support is broken. A very important level to watch is $2.10 which is the up trend support, 78.6% Fibonacci Retracement Support and also the 200D MA support. Breaking below this support level may reverse NOL stock price to have a bigger correction.
NOL is breaking out from the Symmetrical Triangle after 5 months consolidation. The price target of this breakout is $2.50.
