week21 SGX NOL. What are the signs to look out for in a reversal?

Year to year, NOL has been creating lower lows and seems to be going to a point of no return. However recent it sparked an upmove which started to raise some interest.


week15 NOL monthly level 160415

on a technical chart basis, a change in the zig zag down has been seen:


week20 NOL D1 linechart 150515

A higher high and higher low has been registered. More significantly several 52weeks levels have been flushed to the upside. The red zig-zag shows a change to the green one, showing a change in bias.


week21 NOL D1 monitoring the confluence 190515

On the daily timeframe, a channel can be observed. Whether this is a rising channel or a larger bear flag, more can be concluded when price reaches the support confluence. A sign of bullish support candle such as hammer will be good.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s