Good support line for NAT to reverse (2nd tag and testing). and cross looking similar to previous reversals. Dividend near the magic 10% point and insider buying. Need to come up - maybe Friday's NFP will be the catalyst.
If going straight up, may pause as passing through various moving averages. Will be hard to break through the down trend from recent highs around $14.50 to $15 if you don't want to think really long term.
If breaks below 9.94, will dollar cost average in to historic low around $7.
Buying 2nd lot (same size) on the S&P dip/reversal today just before close. $10.57
Would like to see the consolidation pattern continue. Since they already dropped the dividend earlier this year hopefully will stick with $.25/share.
Again - this is a long term dividend play. The new lower dividend started at 7% and is already back up at 10.81% where retirees like it. At the historic low, it would be a 14% dividend.
With the S&P and Oil possibly on cyclical down legs and the market coiling for the election in general, I'm not confident in holding support here. With insider buying, a funded larger fleet and holding the dividend at 26 cents this quarter, I should be more confident. Not happy the 10% haircut turned into a 20% drop in price. I'm continuing to plan for averaging in around 8 (13% div) and 7 (14% div). I'll be all in if it gets to $7.