Initially I wanted to send this out as an alert but after looking at the volume, I decided that this would be a “semi” alert. If the volume is a lot higher, like Yanlord previously (see Yanlord chart previously before the fall), then you will understand.
NOL after being range-bound for a long long time, decided to break-up, but today formed a white shooting star with high volume. Therefore, there is a higher chance that it may retrace down.
For those interested to enter this shorting trade, do watch your cut loss as I think there may still be a little bit bull strength left (not much but a tiny bit left)
By the way, market is towards overbought side.
