Wednesday, 18 April 2012

Question by Graduate: Can we Short NOL now? Nope

Dear Friends,

Let us treat this as a case study. I received a question from our Graduate on this stock NOL. He ask if this stock follows Mr Hu Li Yang's system of breaking down a Box Bottom.

Let us see this chart:

My Opinion: Instead of shorting, we should be looking at buying instead. It went to bottom of Box at $1.25 yesterday. I am looking for a bounce off the bottom. This is triple bottom alert, not a breakdown yet. Let us see today if it bounce off the support. Hopefully with good volume and a good candle.

Even if $1.25 does not hold, $1.20 should hold. This is the price of "LAW OF GRAVITY OF PRICE" figure!

Having said that, this is earnings season. I would like to know when NOL release its earnings before going in. Check your date with your broker

Rgds
Daniel

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