Very beautiful down trend in 4 days after a gap up and doji. For 10 June 2009, it will be very interesting to see if it can play between 1.59 and 1.49 range on 5th day. A break above 1.59 will signal a breakout of down trend and reversal. A breakout below 1.49 likely to send it to target of 1.38.
Since the right issue is 1.30, if NOL ever hit 1.38, I think the best thing the existing shareholder can do is to just hold tight with it. Someone will make sure the right is fully subscribed in order to prevent the big boy force to acquire too much share which may trigger general offer.
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