The bad news is the breakout at resistance level of 300 failed, although it was a stronger attempt than the previous in Aug.
The good news is the support has risen from May (165), July (190), Sept (210).
The trading range now seems to be between 220 and 300 and is being forced over time into an ascending triangle.The recent 'sell the news' moment has left the share price in the middle of this trading range at 260-265.
The last couple of green candles on the 1hr suggest a slowing of the selloff and some stabilisation. A breakout may occur with the price is pushed into a narrow band in the 26-30 range, but I think the recent 'sell the news' has put a dampener on it this week.
NOV Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
