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.

Monthly

week15 NOL monthly level 160415

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

D1

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.

D1

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.

tbc.

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