The chart is a 3 box reversal Point and Figure chart.
The chart is based on daily high and daily low prices.
The chart is a 2% logrithmic chart, ie each chart box represents
a price change of 2% of the value of the box above or below it.
Four possible support prices and six possible resistance prices
are shown, as well as the support/resistance lines.
A 'resistance' or 'support' point is a price where an issue's upward
or downward price movement may 'stall'. The ultimate result of the 'stall'
may be either a continuation or a reversal of price movement, depending
on whether there are more or less sellers than buyers at the specific price
NOVL is now trading in an overall bullish trading channel. NOVL
currently is in an downtrend column ('O'). Support may be seen at points
S1 through s4. If the uptrend column ('O') reverses into an uptrend column
('X'), resistance may be seen at points R1 through S6. S1 must hold to
preserve the overall bullish trading channel.