2. NOL has Huge Descending Triangle within Long Term Downtrend:
Worldwide Financial Markets had 2 years 8 months of Escape Wave Rebounds, propelled mainly by technologies, banking/finance and properties (low interest environment), but world economic activities were far from satisfactory as hinted by this high quality shipping line company. This highlights the below-average fundamentals in the economic structures worldwide. Something drastic has to happen to fundamentally change the economic structures worldwide (Example Western World has to produce more and Eastern World has to consume more).
3. NOL used 2 years and 8 months to adopt a wait-and-see approach and consolidate; however, this consolidation is coming to an end.
4. Expected to break down the $0.98-$1.025 Support Band and get resisted by the $0.98-$1.025 Band for the next target of $0.49 (high downside).
5. The next wave of massive bearish volumes is expected to come soon. This massive selling volume will trigger the first real wave of margin call that had not been seen since 2008 financial crisis.
(Hint for Worldwide Shipping Sector: Highly Bearish)
If you're not getting out for safety, are you prepared
for the high downside with substantial loss for those with buys/longs/investment portfolio?
(Expect to see first real wave of Margin Calls worldwide that had not been seen since 2008 financial crisis)