3 Month Nortel Chart
Technical analysis of Nortel (NT) keeps the focus on price. There is steady newsflow about Nortel and there is a presumption of some value for the company. I am not qualified to guess at what that value is so I use charts to assist me.
Nortel is sitting on support defined by gaps in May and August. There is overhead resistance from a 2 week and 2 month descending trendlines. Major resistance is at US$5 and major support is at US$3.00-3.16. Watch these levels closely. I'd be very nervous if current support (from the 2 gaps) fails.
Courtesy the Big Picture Speculator
I currently do not own NT.