How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: jtig who wrote (9197)	12/1/1998 11:59:00 AM
From: Herm	Read Replies (4) of 14162

Hi John, NOVL Looks like every time NOVL breaks below a 50 RSI the stock dips downward. That $14.00 should be the first test of that lower resistance level. It would be healthy for NOVL to go sideways and then consolidate below $14 before the next attempt to make a new 52- week high which usually (90% of the time) does not happen on the first upward rebound. I still think NOVL will bounce off that lower BB. With such a nice climb recently I can see the funds and MMs taking end of the year profits off the table for their performance bonuses. askresearch.com

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