Following up from previous post last Friday, Noble has indeed traded higher and tested the 1.10 resistance today. 1.10 has been cleared, more confirmation if the 1.105 sellers clear out too…. Maybe good to go higher if support at 1.10 holds for now. Target to 1.12 then 1.16
Sent: Friday, March 07, 2014 4:13 PM
Subject: ********* Noble: Cleared immediate 1.08 resistance...... Price now at 1.09...
Noble has cleared the 1.08 resistance level after breaking below it since early December last year. Have tested 1.10 which would be a psychological level to watch… a break above 1.10 can pave the way to 1.15 fast… Top 10 volume seen currently on breakout…. Can average up if the 1.10 clears out.
Stop loss at 1.065.
NEWS – 5TH MARCH 2014
*Noble: Confirmed that it is currently engaged in discussions in relation to a potential JV around its agri business. A deal, if it materializes, is estimated to be worth potentially US$1b, with China agri giant, COFCO tipped by media as the potential buyer.
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