Friday, July 19, 2013

***** Monitor Closely: Noble Group. Share Price: 0.900. (CFD Trading SELL)

Following up from previous call made on 25th June 2013. Noble has indeed broken its support at 0.95 and traded lower to test the next critical support at 0.900. Has been trading from 0.90 to 0.95 for about 2 weeks but still no signs of rebounding above the support turned resistance at 0.95 level. Have seen a slight breakdown of 0.90 Critical support yesterday and today with a low set at 0.895. Cautious on this counter as if the buyers at 0.895 get thrown down, more downside is possible to 0.85 probably. Can consider accumulating CFD SHORT positions if the support does not hold.
Stop loss at 0.915 for any short trades on breakdown.

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