NOA North American Energy Partners Idea

NOA is involved in oil drilling. With the tensions in the Middle East heating up any company that is involved in oil may experience a bounce.  NOA didn’t have a good quarter due to some project delays that ate into revenue.  They could still be a good technical play.

The Weekly chart shows multiple tops near 12.70  A break above 12.80 could go for an extended run.  Multiple tops are usually bearish so it would not be a good idea to jump in without confirmation.  A buy stop above 12.80 might be a good entry. 

Stock-Chart---NOA-2011-02-16

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