NOVL (long)

Discussion in 'Trading' started by mrswing, Mar 25, 2004.

  1. mrswing



    NOVL gapped up strongly in early November, and then formed a good trend which endured well into the widespread downturn that began mid January. However, the stock did begin to weaken in early February, and eventually fell nearly 35% from its highs. Since then, the stock has formed a double bottom, reaching first lows of 9.31, then a high of 10.54, followed again by a low of 9.32 this Monday’s session. On Tuesday and Wednesday the stock rallied strongly again. Today, the stock closed at 10.63, breaking above the double bottom’s intermediate high on roughly twice the stock’s average volume; simultaneously with this bullish development, the stock also broke above it’s upper Bollinger band.

    Key Levels:

    Entry: Market open.

    Target: We anticipate that even a minor rally on the indices would push the stock near to resistance at 11.66. Our target is 11.49.

    Stop Loss: Just below the highest closing price of the double bottom pattern. Specifically, we will place it at 10.23.
  2. Please tell me someone hacked your account and put "May the swing be with you..." in your signature line.

    Also, why do you have a yellow/gold tint to your picture on your site? Is that a vitamin deficiency?
  3. I wondered about that yellow tint too...
  4. Hey guys....his results are not that bad......

    Michael B.