NOL

First of all, appreciate the viewers that have been looking at my posts.

Spread the words. I will be coming up with some handy materials for VSA very soon once i configured how to do it!( sux at html) I will provide some useful download links for you all. Meanwhile, if anybody wants the materials, drop me a FB or leave me with your email. I hope this blog can be a one-stop VSA portal for everyone who trades in the Singapore market and also for everyone to learn VSA.

NOL again! The reason why I cover this counter is because this is probably one of the best trading counter in the STI components. Who don't like beta and volatility? =D

Also, there has been a lot of footprints created by the SM for NOL and the high volume huge candle stick on Friday! This is fantastic for a VSA analysis.

The last 2 weeks, we witness 2 signs of strength on 2 occassions, as seen from the picture above.

Lets examine what happened in SOS 1. Huge volume was accumulated at SOS (signs of strength) 1. Subsequent day, we witness low supply which shows the lack of sellers before the stock moves up with considerable volume at t+2. The first candle sticks does not mean strength, only when combined with the second subsequent day candle, it is strength (edit)

In SOS 2, we saw a shakeout before day closing at the high. Volume was just above the average by a little.

Last Friday, we see huge accumulation and NOL went to as low as 1.145 before closing at 1.165. The region between 1.175 to 1.200 remains untested as NOL had a gap up on August 6th. SOS no. 3 potentially?

Looking from a TA point of view. NOL reaches its high at around 1.220, which is a resistance as shown.

From the chart, it looks very attractive to me. Notice the upside and the downside for NOL. If you are a fundamental trader, maybe you can look at NOL again. (Temasek Owned) If you are a technical trader, the risk to reward is definitely there. 

As i still cannot confirm that the last candle stick is a SOS, it will be better if I reserve my words. If it is...1.220 will be broken, very soon.

Things to take note to ensure that it is a SOS signal.

1)Low tail downwards challenging region below 1.165 and closing above it. It will be even better if it is with volume.

2) Opening and close within the body of Friday's candlestick with low volume. Preferably with thin spread.

If any on this two happens, I expect NOL to chiong and break above 1.22.

Let's see! Thank for your time.