Friday, June 26, 2015

Noble Group: Are we seeing a breakout as predicted ?

TRADING Call issued at 0.75 this morning ! now at 0.77 !!  J Let’s see if it touches our 0.800 target ?

Sent: Friday, June 26, 2015 9:25 AM
Subject: *******Noble Group: Consolidation in progress with clear resistance at 0.75.
Note that Noble has today attempted a breakout on top 5 volume above the 0.745 – 0.75 resistance level that it has traded below for more than 2 weeks. High seen today at 0.76 and staying above 0.75 now can see a rebound back to 0.80 then 0.83 as mentioned yesterday. At current levels, it has crossed above the 20 day MA line convincingly and with MACD and RSI still lending support. Stop loss can be raised to 0.73 for any long positions.

Sent: Thursday, June 25, 2015 12:36 PM
Subject: *******Noble Group: Consolidation in progress with clear resistance at 0.75.
Following from previous call, Noble Group has still consolidated within the range of 0.68 to 0.75 now after a series of shares buy back by the company. Longer term trend lines are still pointing downward so those trading the rebound can expect a resistance at 0.745 – 0.75 firmly. Only a breakout above 0.75 will invalidate our bearish scenario and we can then expect a trade back to 0.80 then 0.83 which was originally the support level. Temp support at 0.68 would hold for now given that Noble is shoring up confidence amongst investors by buying back shares. Those looking to trade this range can consider accumulating on dips near 0.68 for a rebound back to 0.75. Breaking support at 0.68 can pave the way lower to 0.63 then 0.60 which would trigger more sell calls so cautious and stop loss for any long positions below 0.68.

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