I thought i'll introduce a chart of NOL to you today. Why do I like it? Because it has traced a nice round bottom around the $1.00 level and broken up from both the medium and longer term moving averages. The stock is now trending nicely upwards. Support looks strong between $1.35 and $1.40. Near term resistance is $1.50. Global economy looks to be recovering. Japan seems to have rebuilt its manufacturing facilities following the devastating tsunami, US job numbers and economic numbers look promising. Looking at the way the price of NOL is behaving, it looks like shipping volumes are picking up.
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