During the popular Lightning Round segment of Mad Money Wednesday night one caller asked Jim Cramer about Nordic American Tankers (NAT) . "I think it's time to move on," replied Cramer.
We last covered NAT on April 27 and wrote that, "No change in strategy from last week: "The bar chart shows that prices can go down as well as up so trading NAT is really only for the nimble and experienced." Prices nearly reached our $9.25 price target but quickly reversed lower.
In the updated daily bar chart of NAT, below, we can see that the March and April price rally ended quickly. The shares are now trading below the declining 50-day moving average line and the cresting 200-day moving average line.
The On-Balance-Volume (OBV) line peaked with a spike in late April. The OBV line has not yet declined back to its starting point in March so I would assume that many of the early buyers of NAT are still holding those positions. The Moving Average Convergence Divergence (MACD) oscillator is bearish.

