Now that NOV's SP has established 20c as firm resistance can we please bring an end to this ridiculous 100c party meme .... NOT going to happen !
Today's intraday low of 17.5c is (except for March 2020) a 3year low despite the "progress" made in product and acquisitions.
So WTF is gooien on .... well the whole BNPL sector is being smashed, and this was given more impetus by todays announcement that Apple is going to be a participant in the BNPL sector. So, is this another nail in coffin of the yet to be profitable NOV ?
Once again, the market made its judgement over 9 months ago, and the relentless SP decline, despite the protestations of true believers, some who even today, say they're still "accumulating". This is a classic case of why the markets judgement (aka tech analysis) must be used to check the validity of personal or broker analysis. I'm sure many readers of this comment will have their "classic case" that where a simple tech based trading plan would have saved a lot money, angst and wasted time and emotion.
PS note that the announcement about the new crypto trade service fell totally flat - crypto is so yesterday.
