NOL - SHORT TERM

NOL had broken resistance level of 1.77 and now going towards 1.90 level. Those looking for quick profit and short term play, can buy at 1.81 level.

Now NOL is trading at 1.83/1.84 level. Those who have bought to hold on till at least 1.89 to take profit. Should hit 1.90 by tomorrow. I suspect next week many markets some minor corrections OR you may call it profit takings.

Hi Winstorn, NOL did not hit 1.90 on Fri. It\'s at 1.78. Is it advisable to hold or sell to cut losses?

NOL is now on uptrend as world shipping activities started to improve. Recently freight rates had also increase. It depends on price that you have gone in. Since the breakup is not successful, I think it will retrace back to 1.70 level. The strong support level is now at 1.67 which now previous resistance turn support level. If you are in no hurry to close position, then hold and wait for the CNY rally to 2.10 level. Sometimes next week, when Dow Jones hit 10692 level, most likely start of correction to 10428 level. CNY rally will start around 8th Feb and may last to the first week after CNY. You may cut lost tomorrow if you want and to buy back at lower prices later on. If tomorrow NOL opening prices is lower, suggust to cut loss first and buy back at lower price when it reaches around 1.67 level. Unlikely NOL will go back to the 1.54 level. Previous 2.00 was tested and now waiting to test the 2.00 level again hopefully by CNY period.

:laugh: :laugh:

winstorn wrote:

NOL is now on uptrend as world shipping activities started to improve. Recently freight rates had also increase. It depends on price that you have gone in. Since the breakup is not successful, I think it will retrace back to 1.70 level. The strong support level is now at 1.67 which now previous resistance turn support level. If you are in no hurry to close position, then hold and wait for the CNY rally to 2.10 level. Sometimes next week, when Dow Jones hit 10692 level, most likely start of correction to 10428 level. CNY rally will start around 8th Feb and may last to the first week after CNY. You may cut lost tomorrow if you want and to buy back at lower prices later on. If tomorrow NOL opening prices is lower, suggust to cut loss first and buy back at lower price when it reaches around 1.67 level. Unlikely NOL will go back to the 1.54 level. Previous 2.00 was tested and now waiting to test the 2.00 level again hopefully by CNY period.

The misleading word is \'improve\'. For people within the maritime sector, they all know the container markets is 3 to 5 years away from recovery. Depending on NOL\'s breakeven levels, the company is not likely to make profits in 2010. Too many vessels within the container sector has been laid up and the artificial freight recovery is due to \'forced\' appreciation due to substantial losses by many companies in this sector. Technically, the counter may break through 2.00 levels. Fundamentally, the sector which NOL is in basically faces a severe test to ride out the stage of cash burn.